java loan calculator applet help

Hi, I could use some help correcting a code here. I need to write a Java applet program (together with its html test file) to calculate loan payments. The user will provide the interest rate, the number of years, and loan amount.

this is what I have so far

import java.awt.FlowLayout;
import java.awt.GridLayout;
import java.awt.Label;
import java.awt.event.ActionEvent;
import java.awt.event.ActionListener;
import javax.swing.JApplet;
import javax.swing.JButton;
import javax.swing.JFrame;
import javax.swing.JPanel;
import javax.swing.JTextField;
import javax.swing.border.TitledBorder;

public class LoanCalculator extends JApplet
implements ActionListener
{
private JTextField jtfInterestRate = new JTextField(10);
private JTextField jtfYear = new JTextField(10);
private JTextField jtfLoan = new JTextField(10);
private JTextField jtfMonthlyPay = new JTextField(10);
private JTextField jtfTotalPay = new JTextField(10);

private JButton jbtCompute = new JButton("Compute Payment");

public LoanCalculator()
{
this.jtfMonthlyPay.setEditable(false);
this.jtfTotalPay.setEditable(false);

this.jtfInterestRate.setHorizontalAlignment(4);
this.jtfYear.setHorizontalAlignment(4);
this.jtfLoan.setHorizontalAlignment(4);
this.jtfMonthlyPay.setHorizontalAlignment(4);
this.jtfTotalPay.setHorizontalAlignment(4);

JPanel p1 = new JPanel();
p1.setLayout(new GridLayout(5, 2));
p1.add(new Label("Interest Rate (e.g., 5.5 for 5.5%)"));
p1.add(this.jtfInterestRate);
p1.add(new Label("Years "));
p1.add(this.jtfYear);
p1.add(new Label("Loan Amount"));
p1.add(this.jtfLoan);
p1.add(new Label("Monthly Payment"));
p1.add(this.jtfMonthlyPay);
p1.add(new Label("Total Payment"));
p1.add(this.jtfTotalPay);
p1.setBorder(new TitledBorder(
"Enter interest rate, year and loan amount"));

JPanel p2 = new JPanel();
p2.setLayout(new FlowLayout(2));
p2.add(this.jbtCompute);

add(p1, "Center");
add(p2, "South");

this.jbtCompute.addActionListener(this);
}

public void actionPerformed(ActionEvent e)
{
if (e.getSource() == this.jbtCompute)
{
double interest =
Double.valueOf(this.jtfInterestRate.getText()).doubleValue();
int year =
Integer.valueOf(this.jtfYear.getText()).intValue();
double loanAmount =
Double.valueOf(this.jtfLoan.getText()).doubleValue();

Loan loan = new Loan(interest, year, loanAmount);

this.jtfMonthlyPay.setText(String.format("%.2f", new Object[] { Double.valueOf(loan.getMonthlyPayment()) }));
this.jtfTotalPay.setText(String.format("%.2f", new Object[] { Double.valueOf(loan.getTotalPayment()) }));
}
}

public static void main(String[] args)
{
JFrame frame = new JFrame("Loan Calulator");

LoanCalculator applet = new LoanCalculator();

frame.add(applet, "Center");

applet.init();
applet.start();

frame.setSize(350, 250);
frame.setLocationRelativeTo(null);
frame.setVisible(true);
}
}

The error I keep getting here is at line 71 (Loan loan = new Loan(interest, year, loanAmount); that java cannot find symbol and it points to where Loan is after new.

I've tried adding in a NoClassDefErrorException import and that didn't work. I tried changing the name of the code and that didn't work either. I've even tried adding a public class loan in the main method but I realized then that a class can't be declared twice in the main method.

I know that nothing in the above code indicates that I actually have a Loan class. his implies that you have a Loan class in the file Loan.java somewhere and it should be in the same directory than LoanCalculator.java. How can I correct this error. thanks