THIS IS A JAVA PROGRAM

Problem Description:

Write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 5% to 8%, with an increment of 1/8. Here is a sample run:

Loan Amount: 10000

Number of Years: 5

Interest Rate Monthly Payment Total Payment

5% 188.71 11322.74

5.125% 189.28 11357.13

5.25% 189.85 11391.59

...

7.875% 202.17 12129.97

8.0% 202.76 12165.83

1.)Analysis:

(Describe the problem including input and output in your own words.)

2.)Design:

(Describe the major steps for solving the problem.)

3.) Name your program Loan

4.)Testing: (Describe how you test this program. Show sample run)