Assignment 4: Loan Calculations (Due: Th, Oct 30)

] > Assignment 4: Loan Calculations (Due: Th, Oct 30)

The following are formulas to calculate the monthly payment and the number of months to save the loaned amount.


monthly payment $p$ ? loan amount $a$ number $m$ of months yearly interest $i$ %	$p = a \frac{\frac{i}{12 \cdot 100}}{1 - \frac{1}{{(1 + \frac{i}{12 \cdot 100})}^{m}}}$

number $m$ of months to save? saving amount $a$ yearly interest $i$ % monthly payment $p$	$m = \frac{lg (1 + \frac{a}{p} \cdot \frac{i}{12 \cdot 100})}{lg (1 + \frac{i}{12 \cdot 100})}$

For instance, the following is a possible output for a call of the form ‘java Loan 10000 12 6.5’.

Notes.

Don’t worry about having perfect alignment for the values in the payment schedule table.
The values of the command line arguments can be retrieved in the following manner.
Double.parseDouble(args[0])
Integer.parseInt(args[1])
Double.parseDouble(args[2])
If the program is invoked with the command ‘java Loan 10000 12 6.5’ then
- The code Double.parseDouble(args[0]) provides the literal 10000.0 of type double
- The code Integer.parseInt(args[1]) provides the literal 12 of type int
- The code Double.parseDouble(args[2]) provides the literal 6.5 of type double.
If questions in an email of yours refer to a program you wrote, please don’t include the program in the email. Instead, put the program in your WWW directory with an extension .txt added to the file name (e.g., Foo.java.txt), change the access mode of the program to 644, and provide just the file name in the email.
Submit your source file ‘Loan.java’ with the ‘submit c214aa lab4 Loan.java’ command.