Create an auto loan calculator java swing program that will provide dialogs to ask the user regarding the price of the car, downpayment and the number of years to pay for the loan. Compute and display the monthly payment of the loan. Assume that the sales tax is 12% and the interest rates depends on the number of years given by the user.Use the folowing formulas for the computation:Tax amount= Car price*sales tax rateCar total cost= car price+ tax amountBorrowed amount = Car total cost- down paymentInterest amount= Borrowed amount* interest rateLoan amount= Borrowed amount + interest amountMonthly payment = loan amount/ number of months loan Number of Years to payInterest Rate7%29%12%15%3.4. Output:InputInputWelcome to Car Loan Program!Enter the down payment price:Enter the price of the car.5000001736234.76CancelOKCancel1st Dialog: Car Price2nd Dialog: Downpayment PriceNo of YoarsLoan InformationEnter the years of the loan:LOAN INFORMATION3Car Price:P 1736234.76P 500000.00CancelOKDown payment:No. of Months:36.0P 208348.17P 1944582.93Borrowed Amount: P1444582.93P 173349.95Total Loan amount: P 1617932.88Monthly Payment: P 44942.58Tax amount:3rd Dialog: Loan no. of yearsTotal cost:Interest:OK4th Dialog: Loan summary

Answered: Create an auto loan calculator java…

Enhanced Discovering Computers 2017 (Shelly Cashman Series) (MindTap Course List)

1st Edition

ISBN:9781305657458

Author:Misty E. Vermaat, Susan L. Sebok, Steven M. Freund, Mark Frydenberg, Jennifer T. Campbell

Publisher:Misty E. Vermaat, Susan L. Sebok, Steven M. Freund, Mark Frydenberg, Jennifer T. Campbell

Chapter11: Building Solutions: Database, System, And Application Development Tools

Section: Chapter Questions

Problem 23CT

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Question

Create an auto loan calculator java swing program that will provide dialogs to ask the user regarding the price of the car, downpayment and the number of years to pay for the loan. Compute and display the monthly payment of the loan. Assume that the sales tax is 12% and the interest rates depends on the number of years given by the user.

Use the folowing formulas for the computation:

Tax amount= Car price*sales tax rate
Car total cost= car price+ tax amount
Borrowed amount = Car total cost- down payment
Interest amount= Borrowed amount* interest rate
Loan amount= Borrowed amount + interest amount
Monthly payment = loan amount/ number of months loan

Number of Years to pay
Interest Rate
7%
2
9%
12%
15%
3.
4.

Output:
Input
Input
Welcome to Car Loan Program!
Enter the down payment price:
Enter the price of the car.
500000
1736234.76
Cancel
OK
Cancel
1st Dialog: Car Price
2nd Dialog: Downpayment Price
No of Yoars
Loan Information
Enter the years of the loan:
LOAN INFORMATION
3
Car Price:
P 1736234.76
P 500000.00
Cancel
OK
Down payment:
No. of Months:
36.0
P 208348.17
P 1944582.93
Borrowed Amount: P1444582.93
P 173349.95
Total Loan amount: P 1617932.88
Monthly Payment: P 44942.58
Tax amount:
3rd Dialog: Loan no. of years
Total cost:
Interest:
OK
4th Dialog: Loan summary

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