rendered paste body// loan amortization calculator Paul Brownimport java.util.Scanner;import java.text.DecimalFormat;public class LoanCalculator { public static void main(String args[]) { // Create an scanner for input Scanner input = new Scanner(System.in); // Enter loan amount System.out.print("Enter loan amount, for example 25000.00: "); double loanAmount = input.nextDouble(); //System.out.println("The Loan amount is $" + loanAmount); // Enter yearly interest rate System.out.print("Enter annual interest rate, for example 8.25: "); double annualInterestRate = input.nextDouble(); //System.out.println("Annual Interest Rate is " + annualInterestRate +"%"); // Enter monthly payment System.out.print("Enter monthly payment payment desired, for example 300.00: "); double monthlyPayment = input.nextDouble(); //System.out.println("The Monthly Payment Amount is $" + monthlyPayment); // Obtain monthly interest rate double monthlyInterestRate = annualInterestRate / 1200; double principle = loanAmount; int month = 0; DecimalFormat Decimal = new DecimalFormat(".00"); // formatting for top of table System.out.println(); System.out.printf("%-6s%-10s%-8s%13s%13s", "Month", "Principle", "Payment", "To Principle", "To Interest"); System.out.println(); System.out.println("__________________________________________________"); // begin loop while ( principle > monthlyPayment ) { double monthlyInterest = (principle * monthlyInterestRate); double toPrinciple = (monthlyPayment - monthlyInterest); principle = (principle - toPrinciple); month++; System.out.printf("%-6s%-10s%-8s%13s%13s", (month), Decimal.format(principle), Decimal.format(monthlyPayment), Decimal.format(toPrinciple), Decimal.format(monthlyInterest)); System.out.println(); }//end loop // variables to calculate final payment double finalMonthlyInterest = (principle * monthlyInterestRate); double finalToPrinciple = (principle - finalMonthlyInterest); // print final payment System.out.printf("%-6s%-10s%-8s%13s%13s", (month + 1), Decimal.format(principle), Decimal.format(principle), Decimal.format(finalToPrinciple), Decimal.format(finalMonthlyInterest)); System.out.println(); }}