Question: help me please urgent java A bank has provides two types of loans to its customers: personal and student loans. Each type has its own
help me please urgent
java
A bank has provides two types of loans to its customers: personal and student loans. Each type has its own interest rate. The loan duration can be for 3 or 5 years. The interest rate is shown in the below table:
|
| Personal | Student |
| 3 years | 5 % | 3 % |
| 5 years | 4 % | 2.5 % |
The monthly payment for each loan is calculated as follows:
Total interest = loan amount * interest rate * number of years
Loan duration in months = 12 * number of years
Monthly payment = (loan amount + total interest) / loan duration in months
Write a program that prompts the user to enter:
- the loan type as character (P or S),
- the loan amount
- the number of years of the loan as an integer: 3 or 5 years
The program will calculate the monthly payment and display it as shown in the sample runs below:
Sample Run 1:
Enter the loan type: P
Enter the loan amount in dollars: 20000
Enter the number of year: 3
The monthly payment for your loan with interest 0.05 is: 638.88
Sample Run 2:
Enter the loan type: s
Enter the loan amount in dollars: 20000
Enter the number of year: 3
The monthly payment for your loan with interest 0.03 is: 605.55
Sample Run 3:
Enter the loan type: f
Invalid loan type.
Sample Run 4:
Enter the loan type: p
Enter the loan amount in dollars: 20000
Enter the number of year: 4
Invalid number of years.
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