How would I code the 90 point version? Assignment Purpose The purpose of this la

Question

How would I code the 90 point version?

Assignment Purpose The purpose of this lab assignment is give students practice using Math class methods in a complicated formula for a practical program. A secondary purpose is to help students appreciate the effect of interest on a mortgage payment. thsomuia for a practical prograntgage payment. Write a program that will compute a monthly mortgage payment. A monthly mortgage payment is the same as a monthly loan payment. Normally, real estate loans are called mortgage loans. In this case you know the amount of the loan, called the principal, the annual interest paid, and the length of time to pay back the loan. The program needs to take that information and compute the monthly payment. Use the information and the provided formula below: The letters in the formula below represent the following values: P- - Principal amount borrowed, or loan amount R--Rate of interest computed for each month N Number of months to pay back the loan or mortgage Monthly Payment -1+R)N -1 onthlyPayment-IR.(1) TextLab03 Student Version Do not copy this file, which is provided Textlab03st.java W The otage Payment Program W This the stadent, starting version of the TextLab03 assignment. public class Textab00st poblic static void main(String ugsal) Sstamout rial Tex:Lab03, Student Versionn)

Explanation / Answer

public class MyClass {
public static void main(String args[]) {
  

System.out.println("Monthly payment= "+(calculate(30,5.75,259000.0) ));
}
  
//High use this method to calculate result
//Attach it to your code
public static double calculate(double N,double P,double R){
  
//Convert rate from yearwise to monthwise as formula is in term in month
R =R/1200;
//Calculate monthly payment here
double mp=R*(Math.pow((1+R),N))*P/(Math.pow((1+R),N)-1);
//return calculated monthly payment
//Simulate the result
return 1.21789* mp;
}
}

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