$($Financial application: compare loans with various interest rates$)$ of $\frac{1}{8}.$ For the formula to compute monthly payment,

monthlyPayment $=\frac{\text{l}\text{o}\text{a}\text{n}\text{A}\text{m}\text{o}\text{u}\text{n}\text{t}\text{m}\text{o}\text{n}\text{t}\text{h}\text{l}\text{y}\text{I}\text{n}\text{t}\text{e}\text{r}\text{e}\text{s}\text{t}\text{R}\text{a}\text{t}\text{e}}{1-\frac{1}{(1+\text{m}\text{o}\text{n}\text{t}\text{h}\text{l}\text{y}\text{I}\text{n}\text{t}\text{e}\text{r}\text{e}\text{s}\text{t}\text{R}\text{a}\text{t}\text{e}{)}^{\text{n}\text{u}\text{m}\text{b}\text{e}\text{r}\text{O}\text{f}\text{Y}\text{e}\text{a}\text{r}\text{s}12}}}$

totalPayment $=$ monthlyPayment $$ numberOfYears $12$

$**$ Don't forget to calculate the monthly interest rate from the annual interest rate.

In the console output, all the currency should be displayed in $2-$digit decimal.

For this lab exercise, please get the user input and output in the console only.

Submit your source codes $($LabExercise$2.$java$),$ and screenshots in Canvas by the deadline

Sample output:

$\backslash$table$[[>$ Assignment$0(1)[Java$ Application$]\frac{?}{\text{L}\text{i}\text{b}\text{r}\text{a}\text{r}}\frac{y}{J}av\frac{a}{J}$avaVirtualMachine$\frac{s}{j}s$