help am a new programming student and i've got ploblem with my assignment and i need help on solving this problem. i have the question listed below for review.

Coban LTD. is a loan granting facility. The company ran an advert in the national daily newspaper requesting interested applicants to register via the internet for a loan facility. The details supplied by each applicant was captured and stored in a file named applicants.txt as shown below.

The company has adopted the following procedures in granting the loan facility to the applicants. The loan facility is to be granted for a 10 year period. The loan value to be granted is calculated based on the applicant’s age and monthly salary as described below.

• For all applicants aged above 50 years, the following conditions are applied to;

all applicants who are aged over 60 years are not granted any loan facility ; any applicants in the group who earns a monthly salary of not less than 1,000 GHC,

a loan facility of 4,000 GHC is advanced at a simple interest rate of 5% per annum; for any other applicant in this group grant 2,000 GHC at a simple interest rate of 4% per annum.

• For all applicants aged above 20 years but not more than 50 years, grant loan of 40,000 GHC at a simple interest rate of 10% if the applicant’s monthly salary is 4,000 GHC, in all other cases for this group, grant a loan of 40% of the basic salary of the applicants for the period stated above at simple interest rate of 5%.

• Any applicants aged 20 years and below, grant a loan of 1,000 GHC, if the applicant’s monthly salary is at least 100 GHC at a simple interest rate of 5%, in all other cases, deny the applicants the facility.

Develop a step by step solution for the company’s loan administrator. Your solution should be capable of determining how much loan is to be advanced to each person as well as sum up the total loan to be advanced to each of the 3 categories of applicants.

Filename Applicants.txt

Name Date of Birth Monthly Salary

Ama G 06/03/1957 5,000

Lena 01/01/1942 10,000

Johnny 11/10/1967 3,500

Carman 11/10/1989 100