Monthly_pay=(loanAmount * monthlylnterestRate) / (1-1 / (1 + monthlylnterestRate

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Monthly_pay=(loanAmount * monthlylnterestRate) / (1-1 / (1 + monthlylnterestRate) /'numOfYears * 12 The monthly interest is computed by multiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the month is therefore the monthly payment minus the monthly interest. Write a program that lets the user enter the loan amount, the number of years, and the interest rate, and displays the amortization schedule for the loan. Suppose you enter the loan amount for 10000 for one year with an interest rate of 7%, display a table below: NOTE: Use the GUI interface to input the values and display the table on the monitor. Must import javax. swing JOptionPane Also use Math class to compute the power of a number. Use Decimal Format class to reduce the decimal to two places. Must use import java.text.*.

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