1-Create an application that will allow a loan amount, interest rate, and number of finance years to be entered for a given loan. Determine the monthly payment amount. Calculate how much interest be paid over the loan. Display an amortization schedule showing the new balance after each payment is made. anthatte allow emanamount intenamtrum 2 Design an object-oriented solution by using the three layers architecture. For the load dlass, characteristics such as the amount to be financed, rate of interest period of time for the loan, and total interest paid will identify the current state of a loan object. Include methods to determine the monthly payment amount, return the total interest paid over the life of the loan, and return an amontization schedule. In the second class, instantiate an object of the load class. Allow the user to input data about more than one loan. Display in the loan LoanApp class the payment amount, amortization schedule, and the total amount of interest to be paid. In the third class, provides a discount percent based on payment amount paid Note: Test for valid data entries. Formulas are needed to calculate the following: numPayments years * 12; term(1+ rate /12--m // javalangMath // For example: double result-Math.pow(22k result is 40 (2"2) paymentAmount loanAmount rate/12 term/(term-1.O) monthinterest rate/12*balance Principal payment-monthinterest Balance- balance- principal Tot Discount Amount- paymentAmount discountPercent Note: The desired output is to display the monthly payment amount, an amortization schedule, and the total interest paid over the life of the loan. The following shows a prototype for the final output