ITCO 620 Unit 5 Your project as a programming consultant is to create a program that develops an amortization schedule. Your program should be written as a Java applet. As an applet, your program will be executed through the use of a browser. Your applet should prompt the user for three different inputs, loan amount, the duration of the loan and the annual interest rate. Your task is to create a Java applet that provides the user with a payment schedule, or amortization schedule. The schedule must include monthly payment amount, interest amount, principal amount and the remaining balance per pay period. The amortization table must be presented to the user in a nicely formatted table. The applet input will be the loan amount, annual percentage rate (APR), and the number of years to pay out the loan. The output will be the loan amount, interest rate per pay period number of pay periods and the monthly payment. This information would be followed by the amortization schedule. Following is an example of the expected output for a $35,000 loan over 8 years at 8.5% interest rate. Loan Amount: $35,000 Interest Rate per pay period: 0.085 Pay Periods: 96 Monthly Payment Amount: $503.72
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