IN JAVA! Do the next 4 steps for the question:

INSTRUCTIONS: Use the steps presented in class to help you solve the problems. You are not required to write the associated Java code. 1. Draw a structure chart 2. Write pseudocode and identify the needed variables. 3. Perform a desk check. 4. Draw a flowchart that incorporates the variable names.

THE QUESTION: Design an algorithm that calculates the monthly payment on a loan from values provided from the user for the total loan amount, annual interest rate, and the term (in years) of the loan. The equation you will use is given by: = (1 + ) (1 + ) 1 You will need to convert the interest rate to a monthly rate in decimal format, and the term into months. The output should include the monthly payment as well as the total money paid over the course of the loan. (Note you are not expected to take into account that the initial loan amount changes after each monthly payment---we will get to that fun problem later in the quarter). Desk check with inputs of $120,000, 30 year term, at an annual interest rate of 7%.