I am trying to create a program in Java that calculates the monthly payment of a loan and prints the repayment schedule. While displaying the interest rate per period, number of payments, payment, and total of payments. Then, a table will output a breakdown of payments (number of), the loan balance with each payment subtracted, the amount of payment to principal, and the amount of payment to interest. It needs to continue after the first table output for new loan values if the user enters 1. The user will enter the loan amount, annual interest rate, and number of years to pay off the loan. This is the output I am looking for: it will continue to 60 displayed payments.
I am trying to create a program in Java that calculates the monthly payment of a loan and prints the repayment schedule. While displaying the interest rate per period, number of payments, payment, and total of payments. Then, a table will output a breakdown of payments (number of), the loan balance with each payment subtracted, the amount of payment to principal, and the amount of payment to interest. It needs to continue after the first table output for new loan values if the user enters 1. The user will enter the loan amount, annual interest rate, and number of years to pay off the loan. This is the output I am looking for: it will continue to 60 displayed payments.
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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I am trying to create a program in Java that calculates the monthly payment of a loan and prints the repayment schedule. While displaying the interest rate per period, number of payments, payment, and total of payments. Then, a table will output a breakdown of payments (number of), the loan balance with each payment subtracted, the amount of payment to principal, and the amount of payment to interest.
It needs to continue after the first table output for new loan values if the user enters 1.
The user will enter the loan amount, annual interest rate, and number of years to pay off the loan.
This is the output I am looking for: it will continue to 60 displayed payments.
![D2L Homepage - CSC10605 X
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Online Java Compiler - X D2L Homework Instructions X
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b Home | bartleby
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Then list the entire payment schedule.
Enter the loan amount. 10000
This program will calculate the payment for a given loan
amount.
Enter the annual interest rate. 5
X
interest rate per period: 0.00416666
number of payments: 60
Enter the number of years to pay off the loan. 5
Desmos | Scientific Cal
66666667
payment: 188.7123364401099
Total of all payments: 11322.740186406594
Payment Loan Balance To principle To interest
What Is the Formula for x +
=JG
»](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc60c9d1f-b3f6-4480-9546-9a7e3a18aff9%2Fb6bbe75d-cda5-464f-99a5-f8850575b326%2Fx9zrorn_processed.png&w=3840&q=75)
Transcribed Image Text:D2L Homepage - CSC10605 X
←
€]
Online Java Compiler - X D2L Homework Instructions X
mycourses.cccs.edu/d2l/le/content/277674/viewContent/13015611/View
Q ↑↓
1 of 14
b Home | bartleby
+ Automatic Zoom
Then list the entire payment schedule.
Enter the loan amount. 10000
This program will calculate the payment for a given loan
amount.
Enter the annual interest rate. 5
X
interest rate per period: 0.00416666
number of payments: 60
Enter the number of years to pay off the loan. 5
Desmos | Scientific Cal
66666667
payment: 188.7123364401099
Total of all payments: 11322.740186406594
Payment Loan Balance To principle To interest
What Is the Formula for x +
=JG
»
![D2L Homepage - CSC10605 X
←
€]
Online Java Compiler- X D2L Homework Instructions X bHome | bartleby
mycourses.cccs.edu/d2l/le/content/277674/viewContent/13015611/View
Q ↑↓
2 of 14
+ Automatic Zoom
payment: 188.7123364401099
Total of all payments: 11322.740186406594
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
X
Payment Loan Balance To principle To interest
10000.00
9852.95
9705.30
9557.02
9408.13
9258.62
9108.48
8957.72
8806.34
8654.32
8501.66
8348.37
8194.45
8039.88
7884.67
7728.81
7572.30
7415.14
7257.32
7098.85
Desmos | Scientific Cal
147.05
147.66
148.27
148.89
149.51
150.13
150.76
151.39
152.02
152.65
153.29
153.93
154.57
155.21
155.86
156.51
157.16
157.82
158.47
159.13
41.67
41.05
40.44
39.82
39.20
38.58
37.95
37.32
36.69
36.06
35.42
34.78
34.14
33.50
32.85
32.20
31.55
30.90
30.24
29.58
What Is the Formula for x +
=JG
»](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc60c9d1f-b3f6-4480-9546-9a7e3a18aff9%2Fb6bbe75d-cda5-464f-99a5-f8850575b326%2Futp0ir_processed.png&w=3840&q=75)
Transcribed Image Text:D2L Homepage - CSC10605 X
←
€]
Online Java Compiler- X D2L Homework Instructions X bHome | bartleby
mycourses.cccs.edu/d2l/le/content/277674/viewContent/13015611/View
Q ↑↓
2 of 14
+ Automatic Zoom
payment: 188.7123364401099
Total of all payments: 11322.740186406594
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
X
Payment Loan Balance To principle To interest
10000.00
9852.95
9705.30
9557.02
9408.13
9258.62
9108.48
8957.72
8806.34
8654.32
8501.66
8348.37
8194.45
8039.88
7884.67
7728.81
7572.30
7415.14
7257.32
7098.85
Desmos | Scientific Cal
147.05
147.66
148.27
148.89
149.51
150.13
150.76
151.39
152.02
152.65
153.29
153.93
154.57
155.21
155.86
156.51
157.16
157.82
158.47
159.13
41.67
41.05
40.44
39.82
39.20
38.58
37.95
37.32
36.69
36.06
35.42
34.78
34.14
33.50
32.85
32.20
31.55
30.90
30.24
29.58
What Is the Formula for x +
=JG
»
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