Answered: SET_3 - DESCRIPTION for JAVA…

Computer Networking: A Top-Down Approach (7th Edition)

7th Edition

ISBN:9780133594140

Author:James Kurose, Keith Ross

Publisher:James Kurose, Keith Ross

Chapter1: Computer Networks And The Internet

Section: Chapter Questions

Problem R1RQ: What is the difference between a host and an end system? List several different types of end...

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PSET_3 - DESCRIPTION for JAVA PROGRAMMING SET 3
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The monthly payment on a loan may be calculated by the following formula:
Rate * (1 + Rate)^N
Payment = ----------------------- * L [note 1]
( ( (1 + Rate)^N ) - 1)
Rate is the monthly interest rate--expressed as a decimal value,
which is the annual interest rate divided by 12.
(12% annual interest would be 1 percent monthly interest.) [note 2]
N is the number of payments, and ...
L is the amount of the loan.
-----------------------------------------------------------------------
Note 1: '^' means exponentiation; a^b means a to the power of b
Hint: Use the pow() function in the Math Library.
Note 2: To convert from percent to decimal ...
Divide the percent value by 100.
-----------------------------------------------------------------------
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PROGRAM REQUIREMENTS for PSET_3
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[1] Create a static Method which computes the Monthly Payment for a
Loan and Returns the value to the Calling Method.
Suggested Signature:
double static MonthlyPayment(double LoanAmount, double APR, int months)
* APR is Annual Percentage Rate for a Loan.
[2] Create a static Method which computes the Amount Paid Back for a
Loan and Returns the value to the Calling Method.
[3] Create a static Method which computes the Interest Paid for a
Loan and Returns the value to the Calling Method.
[4] Write the code in the main() method to call your static methods
which you created in Steps 1-3 above to Compute:
(a) Monthly Payment
(b) Amount Paid Back
(c) Interest Paid
that considers the financing options for a F150 Truck at $45,000
Option_1: 60 months @ 4.25% APR*
Option_2: 48 months @ 4.33% APR

Option_3: 36 months @ 4.99% APR
* Current Auto Loan Rates at Bankrate.com
[5] Write a static method to determine the Minimum Interest Paid
between three Loan Financing Options.
Suggested Signature:
void static MinimumInterestPaid(double opt1, double opt2, double opt3)
Exanple Suggested Output Display:
"Option 2 offers the Minimum Interest Paid of $3500."
[6] Write a static method to determine the Lowest Payment
between three Loan Financing Options.
Suggested Signature:
void static LowestPayment(double opt1, double opt2, double opt3)
Exanple Suggested Output Display:
"Option 2 offers the Lowest Monthly Payment of $900.

USE. JAVA. PLEASE.

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