Java
Create a Loan Amortization Schedule based on user input. Allow the user to enter a loan amount, number of years for the loan, and the annual interest rate. Refer to the steps for tips on how to create this program. You must use printf n this program. Be sure to submit your ava program and a pn t screen of your test results 25% of Test 1 Practical grade) // Calculate monthly interest rate by dividing the annual interest rate by 1200 // Calculate monthly payment loan amount monthly rate / double monthlyPayment loanAmount monthlyRate / // Display monthly payment // Display total payment // Create amortization schedule with the Payments, Interest, Princpal, and Balance The output must be in this layout be sure the payment # interest, principal, and balance print on one line). (1 1/ Math.pow(1 + monthlyRate, years 12)); (1 - 1 / Math.pow(1 + monthlyRate, years 12)) Your Name Loan Amortization Schedule Class -IT-161-### Enter Loan Amount: 18000 Enter Number of Years: Enter Annual Interest Rate: 3.25 Monthly Payment: 848.88 Total Payment: 10176.91 Payment# Interest Principal 27.08 24.86 22.63 20.39 18.15 15.91 13.65 11.39 9.13 6.85 4.58 2.29 828.99 823.22 825.45 827.68 829.92 832.17 834.42 836.68 838.95 841.22 843.58 845.79 Balance 9179.01 8355.79 7530.34 6702.66 5872.74 040.57 4206.14 3369.46 2530.51 1689.29 845-79 -0.00 10 Create a Loan Amortization Schedule based on user input. Allow the user to enter a loan amount, number of years for the loan, and the annual interest rate. Refer to the steps for tips on how to create this program. You must use printf n this program. Be sure to submit your ava program and a pn t screen of your test results 25% of Test 1 Practical grade) // Calculate monthly interest rate by dividing the annual interest rate by 1200 // Calculate monthly payment loan amount monthly rate / double monthlyPayment loanAmount monthlyRate / // Display monthly payment // Display total payment // Create amortization schedule with the Payments, Interest, Princpal, and Balance The output must be in this layout be sure the payment # interest, principal, and balance print on one line). (1 1/ Math.pow(1 + monthlyRate, years 12)); (1 - 1 / Math.pow(1 + monthlyRate, years 12)) Your Name Loan Amortization Schedule Class -IT-161-### Enter Loan Amount: 18000 Enter Number of Years: Enter Annual Interest Rate: 3.25 Monthly Payment: 848.88 Total Payment: 10176.91 Payment# Interest Principal 27.08 24.86 22.63 20.39 18.15 15.91 13.65 11.39 9.13 6.85 4.58 2.29 828.99 823.22 825.45 827.68 829.92 832.17 834.42 836.68 838.95 841.22 843.58 845.79 Balance 9179.01 8355.79 7530.34 6702.66 5872.74 040.57 4206.14 3369.46 2530.51 1689.29 845-79 -0.00 10
