Loan Comparison Problem Description A GUI program that shows a table of loan com

ID: 3790460 • Letter: L

Question

Loan Comparison
Problem Description

A GUI program that shows a table of loan comparison information.

Specifications

You will need to ask for a Loan Amount, and Number of Years. The user will input these via text fields.

There will be a Show Table button that when pressed will create a table with monthly and total payments for each interest rate starting from 5% to 8%, in increments of 0.125%. This will be displayed in a Grid Pane.

The GUI should look something like this:

The interest rate should always have 3 places after the decimal point. Monthly Payment and Total Payment should be formatted as Currency.

Hint: Look at the NumberFormat class or the format method in the String class.

Use a Border Pane for holding everything. Use the NORTH area for user interaction. Use the CENTER area for the table.

The code for the Loan Class is included at the end of this document.

A single line comment on each element needed for the assignment.
Significant variables descriptions.
No “loop” variables. a, b, c, x, y, z, etc.
public class Loan {
private double annualInterestRate;
private int numberOfYears;
private double loanAmount;
private java.util.Date loanDate;

/** Default constructor */
public Loan() {
this(2.5, 1, 1000);
}

/** Construct a loan with specified annual interest rate,
number of years, and loan amount
*/
public Loan(double annualInterestRate, int numberOfYears,
double loanAmount) {
this.annualInterestRate = annualInterestRate;
this.numberOfYears = numberOfYears;
this.loanAmount = loanAmount;
loanDate = new java.util.Date();
}

/** Return annualInterestRate */
public double getAnnualInterestRate() {
return annualInterestRate;
}

/** Set a new annualInterestRate */
public void setAnnualInterestRate(double annualInterestRate) {
this.annualInterestRate = annualInterestRate;
}

/** Return numberOfYears */
public int getNumberOfYears() {
return numberOfYears;
}

/** Set a new numberOfYears */
public void setNumberOfYears(int numberOfYears) {
this.numberOfYears = numberOfYears;
}

/** Return loanAmount */
public double getLoanAmount() {
return loanAmount;
}

/** Set a newloanAmount */
public void setLoanAmount(double loanAmount) {
this.loanAmount = loanAmount;
}

/** Find monthly payment */
public double getMonthlyPayment() {
double monthlyInterestRate = annualInterestRate / 1200;
double monthlyPayment = loanAmount * monthlyInterestRate / (1 -
(1 / Math.pow(1 + monthlyInterestRate, numberOfYears * 12)));
return monthlyPayment;
}

/** Find total payment */
public double getTotalPayment() {
double totalPayment = getMonthlyPayment() * numberOfYears * 12;
return totalPayment;
}

/** Return loan date */
public java.util.Date getLoanDate() {
return loanDate;
}
}

Loan Comparison Loan Amount 10000 Number of Years 5 Interest Rate Monthly Payment Total Payment $188.71 $11,322.74 $189.28 5.125 $11,357.13 $11,391.59 5.250 $189.85 5.375 S190A3 $11,426.11 $19101 5.500 $11,460.69 $11495.34 $191.58 5.625 $11,530.06 5.750 $192.16 $192.74 5.875 $11,564.83 $193.32 $11,599.68 6.000 Show Table

Explanation / Answer

public class Loan {
private double annualInterestRate;
private int numberOfYears;
private double loanAmount;
private java.util.Date loanDate;