The while loop should ask the user for the employee number, gross pay amount, state tax amount, federal tax amount, and FICA withholding amount until the employee number is 0. After the data is entered, the program should display the total amounts for all employees of their gross pay, state tax amount, federal tax amount, FICA withholding amount, and net pay (which is gross pay minus the others). You may use Scanner or JOptionPane to gather and display your data.
– The output does not have to be formatted (JOptionPane centers, so it’s hard to align)
– You can use parse with JOptionPane to get input in one line (but don’t have to)
– The employee number will not be printed since we’re only printing totals
– It took me about 22 minutes
– Doesn’t use the while loop -5 (no credit for this part of the assignment)
– Doesn’t ask for all the variables -1 (-.25 for each variable)
– Doesn’t print the totals -1
– The loop doesn’t work – 2
– Doesn’t follow programming conventions -.5
Balance starts with the initial loan amount, then New Balance
Payment is from the user
Interest is the Balance * Interest Rate (make sure to use .12 for 12%)
Principle is Payment – Interest (this should get bigger while interest gets smaller each time)
New Balance is Balance – Principle (and is what you will use for the next iteration)
For testing purposes (because it works to a zero remaining amount at the end), use the following input parameters – Balance 429,700.84, Payment 86,500, Interest 12%, and Term is 8 years, but it would be good to use other amounts too.
Assume the payments are made annually, and thus, not divided by 12 for a monthly rate.
– This will work best to use Scanner and printf, instead of JOptionPane
– You’ll likely need multiple t (tabs) to line up the columns
– Put any math used in the printf in parenthesis – ex: (yr+1)
– If you don’t use the sample data, it may not end on zero
(extra logic is needed for the final payment, but not necessary for this assignment)
– It took me about 30 minutes
– Doesn’t use for loop -5 (no credit for this part of the assignment)
– Doesn’t ask for the variables -.5
– Doesn’t calculate prin, int, and new balance correctly -.5
– Doesn’t print all the columns -.5
– Doesn’t print the correct year -.1
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