CS 1301 Lab 14 OO Thinking – Chapter 10 Use JGrasp to design and implement the following programs and understand what they do. Exercise 1: Implement class Loan provided in listing 10.2, page 368 (name it Loan.java). Next, implement the test program in listing10.1, page 367 (name it TestLoan.java). Now, modify the test program to create a new object, called it carLoan, using these characteristic: interest rate is 8.50, for 5 years, and borrowed mount is $15,000. Use this new object to test all class methods. Use proper labels in your outputs. Document your code, and organize and space the outputs properly. Use escape characters and formatting objects when applicable. Exercise 2: Following the instructions in the problem statement, design and implement a Java program for programming exercise 10.1, page 399 (name it Time.java). Next, develop a test program in a separate file (call it TestTime.java) to create couple time object and display their time as specified in the problem statement. Document your code, and organize and space the outputs properly. Use escape characters and formatting objects when applicable. Instructions: 1. Programs must be working correctly. 2. Programs must be completed and checked before working assignment #14. 3. Programs must be checked by the end of the designated lab session. Page 1 of 1