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Interest calculator the simple interest on a loan is

Question: Perform each of these steps:

1. Read the problem statement.

2. Formulate the algorithm using pseudocode and top-down, stepwise refinement.

3. Write a C program.

4. Test, debug and execute the C program.

(Interest Calculator) The simple interest on a loan is calculated by the formula interest = principal * rate * days / 365; The preceding formula assumes that rate is the annual interest rate, and therefore includes the division by 365 (days). Develop a program that will input principal, rate and days for several loans, and will calculate and display the simple interest for each loan, using the preceding formula. Here is a sample input/output dialog:

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