How to run the code?
- Double click on the executable file
- Type the amount you want to borrow when prompted by question
- Type the repayment time
- Type the collateral you would like to offer
- Obtain the Equated Monthly Installment(EMI)
- Also obtain info about the borrower
Is the loaning system that you implemented centralized or decentralized? Point out the demerit(s) of a centralized system. Answer- The loaning system that I implemented is decentralised as only single entities are involved.
Centralization refers to a setup in which the decision-making powers are concentrated in a few leaders at the top of the organizational structure
1) Bureaucratic leadership-Centralized management resembles a dictatorial form of leadership where employees are only expected to deliver results according to what the top executives assign them
2) Delays in work- Centralization results in delays in work as records are sent to and from the head office.
3) Lack of employee loyalty
Explaination of code: The code that I have written is a one on one loaning serive where the EMI is calulated based on the amount of money borrowed by the borrower, time he/she will take to repay the loan and the service also asks for a collateral Person is a class lender and borrower are inherited classes from Person class lender1 is an object of lender borrower1 is an object of borrower The executable first gives information about the the lender and then asks various questions You are supposed to give corresponding answers The simple interest will be calculated based on your answers The monthly EMI will be the final output along with your information