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Calculate interest application

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Reference no: EM131592010

Calculate Interest Application

This exercise will provide you with the opportunity to utilize NetBeans to create an application that calculates interest.
End Result: Console

1037_Q.jpg

Objective
- The application prompts the user to enter a loan amount and an interest rate.
  -The application calculates the interest amount and formats the loan amount, interest rate, and interest amount. Then, it displays the formatted results to the user.
- The application prompts the user to continue.

Directions
Create a new application and name it LastName_Assignment2.

Create the Scanner object.

Get the loan information from the end user by using the System class.

Calculate the interest amount by using the BigDecimal class to make sure that all calculations are accurate.

Format the interest rate, interest amount and loan amount and interest by using the NumberFormat abstract base class. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. The value for the formatted interest rate should allow for up to 3 decimal places.
Display the results by using the System class.

Assume that the user will enter valid double values for the loan amount and interest rate.

The application should continue only if the user enters "y" or "Y" to continue.

Attachment:- Assignment.rar

Reference no: EM131592010

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