Create an IPO chart to define the problem and then refine your processing area into an algorithm (Pseudocode or Flowchart) that solves the problem. Be sure to identify any assumptions you make in creating the solution. 1) Input the balance owing and number of days outstanding on a debt. Calculate the amount of interest and the new total balance owing based on the following rules: a. If the days outstanding is 90 or more, the interest is 15% b. If the days outstanding is between 60 and 89 (inclusive), the interest is 10% c. If the days outstanding is between 20 and 59 (inclusive), the interest is 5% d. If the days outstanding is less than 20 , the interest is 0% e. If the balance (before new interest is applied) is more than $1500 then the interest rate is increased by 2% Display the following information on the screen (with the appropriate calculated values): Original Balance Owing: $9999.99 Days Outstanding: 99 Interest Rate: 12% Amount of Interest: $9999.99 New Balance Owing: $99999.99 2) Input a numeric grade value and report the associated letter grade for that grade