Question

Hello, I am just having a hard time understanding this question. The question is below. I am not supposed to write a program but instead in regular english sentence form just name the methods, fields, and variables I would use for this loan class. Im not really sure what a loan class means as well, thank you for your help.

USING JAVA Given a Loan class, name the necessary fields and methods that we would need in this class. Be creative in your naming of variables and methods.

Answer 1

/**************************************
*            Loan                     *
*-----------------------------------  *
* -annualInterestRate: double         *
* -numberOfYears: int                 *
* -loanAmount: double                 *
* -loanDate: java.util.Date           *
* +Loan()                             *
* +Loan(annualInterestRate: double,   *
*   numberOfYears: int,loanAmount:    *
*   double)                           *
* +getAnnualInterestRate(): double    *
* +getNumberOfYears(): int            *
* +getLoanAmount(): double            *
* +getLoanDate(): java.util.Date      *
* +setAnnualInterestRate(             *
*   annualInterestRate: double): void *
* +setNumberOfYears(                  *
*   numberOfYears: int): void         *
* +setLoanAmount(                     *
* loanAmount: double): void           *
* +getMonthlyPayment(): double        *
* +getTotalPayment(): double          *
**************************************/

// Implement Serializable
public class Loan implements java.io.Serializable {
        private double annualInterestRate;
        private int numberOfYears;
        private double loanAmount;
        private java.util.Date loanDate;

        /** Default constructor */
        public Loan() {
                this(2.5, 1, 1000);
        }

        /** Construct a loan with specified annual interest rate, 
            number of years, and loan amount
         */
        public Loan(double annualInterestRate, int numberOfYears,
                double loanAmount) {
                this.annualInterestRate = annualInterestRate;
                this.numberOfYears = numberOfYears;
                this.loanAmount = loanAmount;
                loanDate = new java.util.Date();
        }

        /** Return annualInterestRate */
        public double getAnnualInterestRate() {
                return annualInterestRate;
        }

        /** Set an new annualInterestRate */
        public void setAnnualInterestRate(double annualInterestRate) {
                this.annualInterestRate = annualInterestRate;
        }

        /** Return numberOfYears */
        public int getNumberOfYears() {
                return numberOfYears;
        }

        /** Set a new numberOfYears */
        public void setNumberOfYears(int numberOfYears) {
                this.numberOfYears = numberOfYears;
        }

        /** Return loanAmount */
        public double getLoanAmount() {
                return loanAmount;
        }

        /** Set a new loanAmount */
        public void setLoanAmount(double loanAmount) {
                this.loanAmount = loanAmount;
        } 

        /** Find monthly payment */
        public double getMonthlyPayment() {
                double monthlyInterestRate = annualInterestRate / 1200;
                double monthlyPayment = loanAmount * monthlyInterestRate / (1 -
                        (1 / Math.pow(1 + monthlyInterestRate, numberOfYears * 12)));
                return monthlyPayment;
        }

        /** Find total payment */
        public double getTotalPayment() {
                double totalPayment = getMonthlyPayment() * numberOfYears * 12;
                return totalPayment;
        }
        
        /** Return loan date */
        public java.util.Date getLoanDate() {
                return loanDate;
        }

        @Override /** Override the toString method in the Object class */
        public String toString() {
                return "Date: " + loanDate + "\nAnnual interest Rate: " + 
                        annualInterestRate + "\nYears: " + numberOfYears +
                        "\nLoan amount: " + loanAmount;
        }
}

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