Project: Ch $3-$ Loan Amount Calculator

Console

Output $-$ EquipmentLoanCalculatorJAL $($run$)x$

run:

Welcome to the Golf Equipment Loan Calculator

Enter golf equipment loan amount:

$1200$

Enter interest rate: $.08$

Golf Equipment Loan amount:

$$1\mathrm{.}200\mathrm{.}00$

Interest rate: $,8\mathrm{.}000t$

Interest: $$96\mathrm{.}00$

Total Amount to be paid $=$$$1,296\mathrm{.}00$

Continue? $(\frac{y}{n})$ :

Submission

Name your project EquipmentLoanCalculatorXXX, where XXX is your initials.

Name your class file LoanAppXXX, where XXX is your initials. This will generate a source code file with a $.$java file extension with the same name, LoanAppXXX.java.

Possible points: $10$

DUE Sunday at $11$:$59pm$

Operation

The application prompts the user to enter a loan amount and an interest rate.

The application calculates the interest amount and formats the loan amount, interest rate, and interest amount. Then, it displays the total owed formatted results to the user.

The application prompts the user to continue.

Calculation

Interest $=$ Loan Amount $*$ Interest Rate

Total amount to be paid $=$ interest $+$ Loan Amount