Objective: Create a simple program that will calculate the monthly interest rate, number of months, and monthly payment for a home loan with compound interest.

Required Components: A Java class with a main method. A second Java class that represents a Loan. Use the Eclipse IDE.

Scenario/Information: For most home loans, there are three main values that represent the state of the: the principal (total amount loaned), interest rate (usually stored as annual rate), and total term (in years) that the homeowner has until the loan should be fully repaid. If these three values are known, then other characteristics about the loan can be calculated. For example: Monthly Rate = APR / 12 Total Months = Total Term * 12 Monthly Payment = Principal * Monthly Rate / (1 - (1 + Monthly Rate) -Total Months))

What to do: Write a new simple Java program with Eclipse using a main method. The main method should simply declare a loan object and pass the loan object initial values for the principal, rate (APR) and term (years). It should also call a method of the Loan class to get and print the monthly payment to the console. The Loan class should include field variables for each of the basic loan values (principal, rate - APR, and term in years), two constructors (a default no-parameter constructor and a second constructor which allows all three values to be passed in to the object), getters and setters for each field variable, and a method that calculates and returns the monthly payment. Also include methods that will return the total months and monthly rate, and several other methods that will take some initial loan values and calculate the monthly rate, total months, and monthly payment. Your main method can initialize basic loan values, but it must call a different method for each calculation and a separate method to output results to the console. You should output the results to the Eclipse console window. Be sure to run, test and debug your program before submission.