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Java
1. Demonstrate that you know how to define variables in a program, create conditional statements, write a loop, obtain input from the user, and display output. 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 in this program. Be sure to submit your java program and a print 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 amountmonthly rate / (1-1/Math.pow(1 + monthlyRate, years 12)); double monthly Payment loanAmount monthlyRate / (11 /Math.pow(1 monthlyRate, years * 12)); //Display monthly payment Display total payment // Create amortization schedule with the Payment, Interest, Principal, and Balance The output must be in this layout (be sure the payment # interest, principal, and balance print on one line) Your Name Loan Amortization Schedule Class-IT-16 I-### Enter Loan Amount: 10000 Enter Number of Years: Enter Annual Interest Rate: 3.25 Monthly Payment: 848.08 Total Payment: 10176.91 Payment# Interest Principal Balance 27.08 820.99 9179.01
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