(Solved): Submission Name your project EquipmentloanCalculator xxx, where xxx is your initials. Name your cla ...

Submission Name your project EquipmentloanCalculator

, where

is your initials. Name your class file LoanApp

, where

is your initials. This will generate a source code file with a .java file extension with the same name, LoanAppXXX.java. Possible points: 10 DUE Sunday at 11:59pm Operation 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 total owed formatted results to the user. The application prompts the user to continue. Calculation Interest = Loan Amount * Interest Rate Total amount to be paid

interest + Loan Amount Specifications Use pseudocode and/or flowcharts to map out your logic before you start coding! Use the Scanner class to get user input as doubles. Use BigDecimal arithmetic to make sure that all calculations are accurate. Specify scaling and rounding mode when appropriate to make sure that all values are displayed properly. Use NumberFormat or DecimalFormat to format output values. Display the Loan amount, Total and Interest as U.S. currency - 2 decimal places, a dollar symbol ($), and round up if the third decimal place is five or greater. Display the Interest rate as a percent - exactly 3 decimal places always displayed with a percent symbol (%). Continue only if the user enters "

" or "

" at the Continue? prompt. Assume the user will enter valid double values for the loan amount and interest rate. Include appropriate comments throughout the code, and include a comment header at the top. Test thoroughly. Produce output that matches above example. Hints Scaling only needs to be used on the calculation for Interest... use a Scale of 2 and a RoundingMode of HALF_UP. If you get

for the first example, don't sweat it. You are doing more scaling than I was asking you to do. It won't be marked wrong for either answer provided you're showing me you understand how to use the setScale() method. Please make sure it is using big decima!!