Java Programming Write a Java application that display a table indicates the pay
ID: 640720 • Letter: J
Question
Java Programming
Write a Java application that display a table indicates the payoff for a car after each payment.
User should be able to enter the following (Scanner):
- Monthly Payment.
- Annual interest rate.
- The number of months required to completely pay for the car.
Use the formula: ("Math.pow"):
Balance = Payment * (1 - (1 + Monthly Interest Rate) ^ (Payment Number - Total Number of Payments) / Monthly Interest Rate.
______________________________________________________________________________________________
The table format should only have 2 columns like this:
_____________________________________________________________________________________________
The following given to know if the program work correct:
- Monthly Payment = 165.25
- Total Number of Payments = 36
- Annual Interest rate is 9%
- THE BALANCE AFTER THE FIRST PAYMENT IS = $5070.31
Thank you for your advance help
Best Regards;
After Payment Number Payoff(balance) 1 10,023.47 2 9,045.53 etc etc........Explanation / Answer
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