Question

I need to design and implement a JAVASCRIPT program that will allow us to determine the length of time needed to pay off a credit card balance, as well as the total interest paid. The program must implement the following functions: displayWelcome This function should display the welcome message to the user explaining what the program does. calculateMinimumPayment This function calculates the minimum payment. It should take balance and minimum payment rate as arguments and return the minimum payment. So the value you display for minimum payment is the value you get from this method. Do not use a literal hardcoded value when you display the minimum payment! displayPayments This function displays the actual payment schedule. It should take the balance and monthly interest rate as arguments. Use the 1500, 18% and 2% literal values below. See the sample execution below (The code is not supposed to reflect a table. It should not have a grid) : This program will determine the time to pay off a credit card and the interest paid based on the current balance, the interest rate, and the monthly payments made.

This program will determine the time to pay off a credit card and the interest paid based on the current balance,

the interest rate, and the monthly payments made.

Balance on your credit card: 1500

Interest Rate: 18

Assuming a minimum payment of 2% of the balance ($20 min)

Your minimum payment would be $ 30.00

PAYOFF SCHEDULE

_________________

Year	Balance	Payment Number	Interest Paid	Minimum Payment
1	$ 1,492.50	1	$         22.50	$                      30.00
	$ 1,485.04	2	$         44.89	$                      29.85
	$ 1,477.61	3	$         67.16	$                      29.70
	$ 1,470.22	4	$         89.33	$                      29.55
	$ 1,462.87	5	$      111.38	$                      29.40
	$ 1,455.56	6	$      133.32	$                      29.26
	$ 1,448.28	7	$      155.16	$                      29.11
	$ 1,441.04	8	$      176.88	$                      28.97
	$ 1,433.83	9	$      198.50	$                      28.82
	$ 1,426.67	10	$      220.00	$                      28.68
	$ 1,419.53	11	$      241.40	$                      28.53
	$ 1,412.43	12	$      262.70	$                      28.39
2	$ 1,405.37	13	$      283.88	$                      28.25
	$ 1,398.35	14	$      304.96	$                      28.11
	$ 1,391.35	15	$      325.94	$                      27.97
	$ 1,384.40	16	$      346.81	$                      27.83
	$ 1,377.47	17	$      367.58	$                      27.69
	$ 1,370.59	18	$      388.24	$                      27.55
	$ 1,363.73	19	$      408.80	$                      27.41
	$ 1,356.92	20	$      429.25	$                      27.27
	$ 1,350.13	21	$      449.61	$                      27.14
	$ 1,343.38	22	$      469.86	$                      27.00
	$ 1,336.66	23	$      490.01	$                      26.87
	$ 1,329.98	24	$      510.06	$                      26.73

Cont.

13	$    467.52	145	$   2,249.73	$                      20.00
	$    454.54	146	$   2,256.74	$                      20.00
	$    441.35	147	$   2,263.56	$                      20.00
	$    427.98	148	$   2,270.18	$                      20.00
	$    414.39	149	$   2,276.60	$                      20.00
	$    400.61	150	$   2,282.81	$                      20.00
	$    386.62	151	$   2,288.82	$                      20.00
	$    372.42	152	$   2,294.62	$                      20.00
	$    358.01	153	$   2,300.21	$                      20.00
	$    343.38	154	$   2,305.58	$                      20.00
	$    328.53	155	$   2,310.73	$                      20.00
	$    313.45	156	$   2,315.66	$                      20.00
14	$    298.16	157	$   2,320.36	$                      20.00
	$    282.63	158	$   2,324.83	$                      20.00
	$    266.87	159	$   2,329.07	$                      20.00
	$    250.87	160	$   2,333.07	$                      20.00
	$    234.63	161	$   2,336.84	$                      20.00
	$    218.15	162	$   2,340.36	$                      20.00
	$    201.43	163	$   2,343.63	$                      20.00
	$    184.45	164	$   2,346.65	$                      20.00
	$    167.21	165	$   2,349.42	$                      20.00
	$    149.72	166	$   2,351.92	$                      20.00
	$    131.97	167	$   2,354.17	$                      20.00
	$    113.95	168	$   2,356.15	$                      20.00
15	$      95.66	169	$   2,357.86	$                      20.00
	$      77.09	170	$   2,359.29	$                      20.00
	$      58.25	171	$   2,360.45	$                      20.00
	$      39.12	172	$   2,361.32	$                      20.00
	$      19.71	173	$   2,361.91	$                      20.00
	$             -	174	$   2,362.21	$ 19.71

Answer 1