Question: Develop an algorithm, using Raptor, to calculate and display the interest on a capital loan for any given loan amount provided as input to the
Develop an algorithm, using Raptor, to calculate and display the interest on a capital loan for any given loan amount provided as input to the algorithm. The applicable loan interest rates are as follows: 5% on the first $100,000 of capital loan, + 10% on the next $200,000 of capital loan (on the portion of loan over $100,000 up to $300,000), + 15% on the next $500,000 of capital loan (on the portion of loan over $300,000 up to $800,000), + 25% on the portion of capital loan over $800,000 The expected input/output behavior of the algorithm is illustrated below for one example: Loan: $850000 Interest: $112500 Hint: Apply the appropriate interest rate rule based on where the loan amount lies with respect to the interest brackets
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