Question

this is what it should look like only it is not set to any number you input the numbers yourself and it calculates it. The code should be in java

JavaScript Loan Calculator Microsoft Internet Explorer Ele Edit Yew Favortes ools Help Links Enter Loan Information: 1) Amount of the loan (any currency): 200000 2) Annual percentage rate ofinterest 16 5 Repayment period in years 30 Compute Payment Information: 4) Your monthly payment will be 126414 5) Your total payment will be 455088 98 6) Your total interest payments will be: 255088.98 My Computer el Done

this is the end result only the information needed not having it in a window

Answer 1

/* Java program to calculate the monthly payment, total payment and total interest payment

* for given loan amount, annual rate of interest and re-payment years

*/

import java.util.Scanner;

public class LoanCalculator {

       public static void main(String[] args) {

             double loanAmount, annualInterestRate, monthlyPayment, totalPayment, totalInterest;

             int numberOfYears;

            

             Scanner scan = new Scanner(System.in);

             // inputs

             System.out.print("Enter Loan Information : ");

             System.out.print("\nAmount of the loan(any currency) : ");

             loanAmount = scan.nextDouble();

             System.out.print("Annual percentage rate of interest : ");

             annualInterestRate = scan.nextDouble();

             System.out.print("Repayment period of years : ");

             numberOfYears = scan.nextInt();

             // calculate monthly payment, total payment, total interest payemnt

             double monthlyInterestRate = annualInterestRate/1200;

             monthlyPayment = loanAmount*(monthlyInterestRate)/(1-(1/Math.pow(1+monthlyInterestRate, numberOfYears*12)));

             totalPayment = monthlyPayment*(numberOfYears*12);

             totalInterest = totalPayment - loanAmount;

             // outputs

             System.out.printf("\nYour monthly payment will be : %.2f",monthlyPayment);

             System.out.printf("\nYour total payment will be : %.2f",totalPayment);

             System.out.printf("\nYour total interest payments will be : %.2f",totalInterest);

             scan.close();

       }

}

//end of program

Output:

Informati Enter Loan on: Amount of the loan (any currency) 200000 Annual percentage rate of interest 6.5 Repayment period of years 30 Your monthly payment will be 1264.14 Your total payment will be : 455088.98 Your total interest payments will be 255088.98