This problem needs to be written in Java 2.12* (Financial application: calculati

Question

This problem needs to be written in Java

2.12* (Financial application: calculating interest) IF you know thebalance and the annual percentage interest rate, you can computethe interest on the next monthly payment using the followingformula:

interest = balance * (annualInterestRate / 1200)

Write a program that reads the balance and the annual percentageinterest rate and displays the interest for the next month in twoversions: (a) Use dialog boxes to obtain input and display output:(b) Use console input and output.

Thanks in Advance for any help

Aphareus

Explanation / Answer

please rate - thanks b) without formatting, data as double-- message me if you'd likeformatting added, or it changed to integer import java.util.*; public class untitled{ public static void main(String []args) {double balance,rate,interest; Scanner in=new Scanner(System.in); System.out.print("Enter balance: "); balance=in.nextDouble(); System.out.print("Enter interest rate as a whole number: "); rate=in.nextDouble(); interest=balance*(rate/1200.); System.out.println("balance:         $"+balance); System.out.println("yearlyrate:       "+rate+"%"); System.out.println("monthly interest: $"+interest); } }

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