Write a program that creates a loan amortization table. Theuser of the program w

Question

Write a program that creates a loan amortization table. Theuser of the program will supply values for Initial Loan Principal,Annual Percentage Rate and Monthly Payment. The programshould print out the appropriate amortization table including thenumber of Monthly Payments and the Total Interest paid for the lifeof the loan. The program should allow multiple runs (up to 4different versions) of the table process and should allow the userto compare runs in a tabular format.

Explanation / Answer

please rate - thanks I think this is what you are looking for import java.util.*; public class amortization {public static void main(String [] args)    {double principal, rate, mrate, mpay, factor,interest=0,totint=0,mint;    int month=0, cnt=1,runs=0;    char again='y';    String input;    Scanner in=new Scanner(System.in);    do{cnt=1;    System.out.print("Enter the principal of the loan:");    principal=in.nextDouble();    System.out.print("What is the monthly payment?");    mpay=in.nextDouble();    System.out.print("What is the Annual Interest Rate?");    rate=in.nextDouble();    System.out.printf("Principal: $%.2f ",principal);    System.out.printf("Annual Interest Rate:%.2f%% ",rate);    System.out.printf("Monthly Payment:%.2f ",mpay);    System.out.printf("Payment Interest    Principal        Balance ");    while(principal>mpay)      {interest=principal*((rate/100)/12);        totint+=interest;        System.out.printf("%3d       %7.2f    %7.2f",cnt,interest,principal);         principal=principal+interest-mpay;       System.out.printf("      %7.2f ",principal);        cnt++;       }    interest=principal*((rate/100)/12);    totint+=interest;    System.out.printf("Final Payment:$%6.2f ",principal+interest);    System.out.printf("Total interest paid$%6.2f ",totint);    System.out.println("Total number of payments:"+(cnt));    runs++;    if(runs

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