What would the code look like to something like this? I have some code written but I feel like it makes no sense for what this is asking me to do.

 

• The First National Bank of San Diego has tasked you to write a mortgage analyzer library for its loan officers to use. For this lab, you are only required to create a set of Java classes that represent the applications business logic.
• Using the following simple use cases implement a Java class e.g. MortgageAnalyzer and any potential Java interfaces for the following actions :
• The user can enter the amount of the loan, the annual rate of interest, and the duration of the loan in months - this will require public member functions that can be used to enter this information into the MortgageAnalyzer class.
• The user can run a verification check on the information that was entered to make sure it is reasonable - this can be a verify member function that returns a Boolean true on success.
• If bad or anomalous data was entered in setting up details of the loan the user should be advised and allowed to correct the input data - a public correctInput member function as an example.
• Once the data is verified to be correct or reasonable the user should invoke a public member function on the class named calculateMortgageDetails to get the following example information using one or a series of API calls internal to the class:
• Amount of Loan             - $140000
• Annual Interest Rate      - 8.00%
• Duration of loan in months - 360
• Monthly payment           - $1027.27
• Total interest paid          - $229,817.20

The formula for the monthly payment is:

            payment = p * r * (1 + r)ⁿ  / ((1 + r)ⁿ - 1)

where p is the principal amount of the loan, r is the monthly interest rate (annual rate divided by 12) given as a number between 0 (for 0 percent) and 1 (for 100 percent), and n is the duration of the loan (number of pay periods e.g., 360).  The formula for the total interest paid is:

            Total interest = n * payment - p

In addition create a unit test for your library, and as an example, the following data can be used to test your program:

Input:

                           Amount of Loan             - $140000

                           Annual Interest Rate      - 8.00%

                           Duration of loan in months - 360

Output: 

                           Monthly payment           - $1027.27

                           Total interest paid          - $229,817.20

Answer rating: 100% (QA)

Here is the code for the mortgage analyzer library Java public class MortgageAnal... View the full answer