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2. Problem 2, Auto Loan Payment Calculator: In this problem you will create a program that given some basic information calculates an estimated monthly payment
2. Problem 2, Auto Loan Payment Calculator: In this problem you will create a program that given some basic information calculates an estimated monthly payment for an auto loan, and the amount of the loan remaining after making 12, 24, & 36 payments. Your program should prompt the user for the make, model, and year of an automobile, the auto's price, and the amount of the down payment. You will assume that all autos will be financed for 72 months at an interest rate of 6.9% annually. Your program MUST implement the following methods: calculatePayment: which receives the interest rate (rate), loan amount (principle) and number of months for which the auto is financed (months) as parameters and will calculate the monthly payment as * payment Principle* (Rate/12) (1- (1 Rate/12) -Months) This method will return the monthly payment as a value of type int, by rounding the payment amount (SEE CLASS MATH); a. balanceRemaining: This method calculates the balance remaining on the loan after a specific number of payments. This method must receive as parameters, the payment amount, the length of the loan in months, the number of payments made and the interest rate Amount-PaymentAmount"( ( 1-(1+i)-(MT-K) ) / ) i- (R/M) where R is the interest rate and M is the number of payments per vear. T is the number of years the loan is for K is the number of payments made a. This method returns the remaining balance as a double You should output the make, model, and year of the automobile, the base price, down payment, the loan amount, the number of months financed, and the monthly payment (rounded to 2 decimal places). (HINT: use the printf method) It will then print the loan amount remaining after making 12, 24, & 36 payments Allow the user to input whether they want to finance the automobile for 48, 60, OR 72 months, any other number of months should be an error
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