Given the following formula: Monthly Pay= [rate + rate / ([1+rate] ^(months) -1) X principle Where rate
Question:
Given the following formula:
Monthly Pay= [rate + rate / ([1+rate] ^(months) -1) X principle
Where rate of 6% means 6/1200 and
Months means number of years x 12
Possible data to test:
Principle 12200
Rate 7
Term in years 5
Monthly payment is 241.57
Total Payment is 14494.48
Interest Expense is 2294.48
Implement class Loan with the following members:
- Principle
- Rate
- Number of years
- Monthly payment
- Interest payed
The loan constructor should take principle, rate, and year.
Now, make GUI using JavaFX with proper Text Fields and a Button.
When your program run user will see the GUI, and enter data,
Using given data, create object of Load.
User press the button, should see the monthly payment and total interest. Throw an exception if data is mismatch.
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher