Monthly Payment Program (in the attached photo), update it with the following in java code:If applicable, remove hard coding for the principal, annual interest rate and number of years. Replace these with Input Dialog Boxes requesting data be entered.The calculation should remain the same.Replace the output area with a showMessage box.Allow the user to request a detailed display of the payment schedule. This will include the ending balance and interest paid per month in a line-by-line display.Add a loop to the program allowing the user to continue entering new data as many times as they like (all input and output should be displayed in dialog boxes). public class Lab02bvst{public static void main(String[] args)}System.out.println("Lab02b, Student Version\n");double principal = 250000;double rate = 4.85;double annualRate = (4.85/100)/12;double numYears = 30.0;double time = numYears * 12;System.out.println("Principal $: " + principal);System.out.println("Annual Rate:+ rate + "%");System.out.println("Numberof years: + numYears);double p = ((annualRate * Math.pow(1 + annualRate, time) / (Math.pow(1 + annualRate, time) - 1))) * principal;p = Math.round(p* 100) / 100.0;//double p = (principal * annualRate) / (1 - Math.pow(1 + annualRate, -time));System.out.println("Payment: " + p);double t = time * p;System.out.println("Total Payments: + t);double i = t - principal;System.out.println("TotalInterest: " + i);

The program now uses JOptionPane.showInputDialog() to prompt the user for input instead of…

Answered: Monthly Payment Program (in the…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Monthly Payment Program (in the attached photo), update it with the following in java code:

If applicable, remove hard coding for the principal, annual interest rate and number of years. Replace these with Input Dialog Boxes requesting data be entered.
The calculation should remain the same.
Replace the output area with a showMessage box.
Allow the user to request a detailed display of the payment schedule. This will include the ending balance and interest paid per month in a line-by-line display.
Add a loop to the program allowing the user to continue entering new data as many times as they like (all input and output should be displayed in dialog boxes).

public class Lab02bvst
{
public static void main(String[] args)
}
System.out.println("Lab02b, Student Version\n");
double principal = 250000;
double rate = 4.85;
double annualRate = (4.85/100)/12;
double numYears = 30.0;
double time = numYears * 12;
System.out.println("Principal $: " + principal);
System.out.println("Annual Rate:
+ rate + "%");
System.out.println("Number
of years: + numYears);
double p = ((annualRate * Math.pow(1 + annualRate, time) / (Math.pow(1 + annualRate, time) - 1))) * principal;
p = Math.round(p* 100) / 100.0;
//double p = (principal * annualRate) / (1 - Math.pow(1 + annualRate, -time));
System.out.println("Payment: " + p);
double t = time * p;
System.out.println("Total Payments: + t);
double i = t - principal;
System.out.println("Total
Interest: " + i);

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