Question
Use JSP to prepare an amortization table for a loan. Create a HTML form that uses-
1. Textbox to enter Loan amount,
2. Dropdown list to choose Annual Interest Rate, and
3. Radio buttons to choose 1, 2, or 3 year's term. After submitting the form, a JSP page is called to produce output page that displays Loan, Rate and Term in textboxes and displays the amortization table. Use formula given in assignment to compute the monthly payment the amount to interest column is calculated by multiplying the previous month's remaining balance by the monthly rate (annual rate/12). Amount to principal is Payment - Amount to Interest. Remaining Balance is previous month's remaining balance - amount to principal. Dollar figures have to be displayed with a currency format. A loan amortization table case is given below. Turn in webpage view and source code view.
Loan = $5,000, Year = 1, Annual Rate=6%:
1 $430.33 $25.00 $405.33 $4,594.67
2 $430.33 $22.97 $407.36 $4,187.31
3 $430.33 $20.94 $409.40 $3,777.91
4 $430.33 $18.89 $411.44 $3,366.47
5 $430.33 $16.83 $413.50 $2,952.97
6 $430.33 $14.76 $415.57 $2,537.40
7 $430.33 $12.69 $417.65 $2,119.76
8 $430.33 $10.60 $419.73 $1,700.03
9 $430.33 $8.50 $421.83 $1,278.19
10 $430.33 $6.39 $423.94 $854.25
11 $430.33 $4.27 $426.06 $428.19
12 $430.33 $2.14 $428.19 $0.00