Loan Payment Calculation Application

In this exercise, you will create a Windows Forms application in C# that calculates the total payments for a loan over a specified number of years. The user will enter the loan amount, interest rate, and number of years, and the total payments for each year will be displayed.

Set Up the Form

Add TextBoxes

Create three TextBoxes for user input:

One for the Loan Amount.One for the Interest Rate$$One for the Number of Years.

Add$$ Buttons

Add a Button labeled Calculate that will initiate the calculation when clicked.Add a second Button labeled Reset to clear all inputs and results.$$

Add a ListBox:

Include a ListBox to display the results, including the year and corresponding total payment.

Add a Labels

Define Methods

CalculatePayments$()$:

Create a single method that:

Takes the loan amount, interest rate, and number of years as parameters.Calculates the annual payment and total payments for each year.Returns the calculated payments.Formula: payment $=($loan$*($rate$/100)*$years$)/$years

Calculate and Display the Total:

Button Click Event:

When the Calculate button is clicked, use if & Tryparse to retrieve the loan amount, interest rate, and number of years from the TextBoxes.

$$

Call the CalculatePayments$()$ method to calculate the annual payment.Display Column Headers

Before showing the yearly payments, the code should first add a header to the list box to help users understand what each column represents. Use listBox$1.$Items.Add$()$ to insert the words "Year" and "Payment" with a tab space between them so that the data that follows is organized clearly.Use a loop to calculate the total payment for each year and display it in the ListBox.

Formatting:

Ensure that the total payment is displayed in the ListBox formatted as currency $($e$.$g$.,$ using ToString$("$c$")).$ show code