Project: Comparing Loans Problem Description: Write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest...

74643 - java interest code/main.java
74643 - java interest code/main.java
import java.util.Scanner;
public class Main {
    public static void main(String[] args) {
        Scanner input = new Scanner(System.in);
        System.out.print("Loan Amount: ");
        double loanAmount = input.nextDouble();
        System.out.print("Number of Years: ");
        int numberOfYears = input.nextInt();
        System.out.println("Interest Rate    Monthly Payment    Total Payment");
        for (double i = 5.0; i <= 8; i += 0.125) {
            System.out.printf("__________________________________________________\n");
            System.out.printf("%-5.3f", i);
            System.out.print("%           ");
            double monthlyInterestRate = i / 1200;
            double monthlyPayment = loanAmount * monthlyInterestRate / (1
                - 1 / Math.pow(1 + monthlyInterestRate, numberOfYears * 12));
            System.out.printf("$%-19.2f", monthlyPayment);
            System.out.printf("$%-8.2f\n",(monthlyPayment * 12) * numberOfYears);
        }
    }
}
74643 - java interest code/mits4002activity07-hjjfbds5.docx
        
        MITS4002
OBJECT-ORIENTED SOFTWARE DEVELOPMENT
Activity 07
Weightage: 5%
Due date: Friday Lesson 08 5PM
        Late penalty applies on late submission, 10% per day would be deducted
0 mark for LATE Submission more than one week
        You will be marked based on your submitted zipped file on Moodle. You are most welcome to check your file with your lab tutor before your submission. No excuse will be accepted due to file corruption, absence from lecture or lab classes where details of lab requirements may be given.
Please make sure that you attend Lecture EVERY WEEK as low attendance may result in academic penalty or failure of this...