Rewrite Programming Exercise 5.21 to create a GUI, as shown in Figure 16.41b. Your program should let the user enter the loan amount and loan period in the number of years from text fields, and it should display the monthly and total payments for each interest rate starting from 5 percent to 8 percent, with increments of one-eighth, in a text area.

Write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 5% to 8%, with an increment of 1/8. Here is a sample run:

For the formula to compute monthly payment, see Listing, ComputeLoan.java.

Listing

Transcribed Image Text:

Show Table 5 Loan Amount 10000 Number of Ycars Monthly Payment Total Payment 11322.74 Interest Rate 5.0 5.125 188.71 189.28 11357.13 5.25 5.375 5.5 189.85 190.43 191.01 11391.59 11426.11 11460.69 5.625 191.58 11495.34 192.16 5.75 11530.06 (b) Loan Amount: 10000 JEnter Number of Years: 5 JEnter Monthly Payment 188.71 189.29 189.86 Interest Rate Total Payment 5.000% 5.125% 11322.74 11357.13 11391. 59 5.250% ... 7.875% 8.000% 202.17 202.76 12129.97 12165.84