Please write a Java code based on the following requirements. Thanks!

For the sample I give, your display need not to look the same as mine, but has to fullfill the requirements.

Be aware that there is some other references after the given sample.

Program 1 (60 points): We are going to write a better version of the loan payment program that was assigned for homework 2. For this version, we are going to take into account the term of the loan and we will also calculate the total amount of interest paid over the life of the loan The program should prompt the user for following data: the amount borrowed in dollars the annual interest rate as a percentage the term of the loan in years The amount of the loan cannot exceed $1,000,000; the interest is given asa percentage between 2.0 and 15.0 inclusive (for example, 6.5 or 5.75), and the term of the loan is no more than 30 years. Your program must check the input provided by the user to ensure that these restrictions are met. Once you have valid data you program should calculate the monthly payment. The monthly payment is fixed (the same amount every month) and it is calculated with the following formula: payment amount)X (rate l + rate Program 1 (60 points): We are going to write a better version of the loan payment program that was assigned for homework 2. For this version, we are going to take into account the term of the loan and we will also calculate the total amount of interest paid over the life of the loan The program should prompt the user for following data: the amount borrowed in dollars the annual interest rate as a percentage the term of the loan in years The amount of the loan cannot exceed $1,000,000; the interest is given asa percentage between 2.0 and 15.0 inclusive (for example, 6.5 or 5.75), and the term of the loan is no more than 30 years. Your program must check the input provided by the user to ensure that these restrictions are met. Once you have valid data you program should calculate the monthly payment. The monthly payment is fixed (the same amount every month) and it is calculated with the following formula: payment amount)X (rate l + rate