Loan Management System
11-30-2017, 05:16 AM,
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Loan Management System
We are building a banking application which tracks a customer on their loans.
1. A customer can have 3 types of Loans (Auto / Mortgage / Personal) 2. Auto loans contain make information (only GM/Ford/Tesla) 3. Customer can make payments for each loan. 4. A bank can levy late fees on a loan (adding to balance) 5. A bank needs the ability to find all Auto loans by make (ie all GM car loans) Personal Loan Fico to Apr mapping: 0-600: 21.99% 601-720: 17.99% 721-850: 12.99% John (1 GM auto loan) Joe (1 Ford auto, 1 mortgage loan in NY) Jill (1 Ford auto loan – joint with Megan, 1 mortgage in CA, 1 personal FICO score 820) Megan (1 Tesla auto loans, 1 Ford auto loan – joint with Jill, 1 mortgage in NV) Tiffany (2 mortgages in NY) Adam (2 auto loans (1 Tesla,1 Ford), 1 personal FICO score 599) Jennifer (1 personal FICO score 650) The default auto loans carry term of 36 months and 4.9% APR. All GM loans start with outstanding balance of $22,000 All Ford loans start with outstanding balance of $26,000 All Telsa loans start with outstanding balance of $82,000 All mortgages start with outstanding balance of $300,000 and term of 120 months and APR 4.0%. Mortgage loans contain a property address All personal loans start with outstanding balance of $5,000, term of 12 months and APR based off the FICO to APR mapping. Scenarios: (print remaining balance of all loans after each scenario) John makes a payment of $500 on his GM auto loan Joe has two loans. Joe pays off his auto loan in full. Joe misses the mortgage payment and the bank charges a $100 late fee on his mortgage loan. Jill makes payment of $425 on her auto loan, $1800 on her mortgage, and $1000 on her personal loan Megan pays $800 toward Telsa auto loan and $1000 towards Ford auto loan and $2000 towards mortgage Tiffany pays $1800 towards her one mortgage and $2000 on another mortgage Adam pays $500 towards Tesla loan and $300 towards Ford loan. He also pays $250 towards his personal loans. Jennifer attempts to pay $8,000 towards her personal loan. The bank should reject the payment because it exceeds the remaining balance. Please execute the above transactions and print the following: The bank needs to print all customers with auto loans with balance greater than zero for a report The bank needs to print all unique customers who have a mortgage (in A-Z order by name) The bank needs to print all customers who have a Tesla auto loan The bank needs to print all unique customers who have a mortgage loan in NY The bank needs to print the total outstanding mortgage balance of all their customers |
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