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# java mortgage code

Posted on 2004-09-22

My program below runs great but my teacher does not like the following. He wants me to "use variable name that mean something" instead if

H = P * J;

C = M - H;

Q = P - C;

P = Q;

I asked him what he means and he never answered back. Can any one help me???

//class MortgageCalculator5

import java.math.*; //*loan calculator

import java.text.*; //*formats numbers

class MortgageCalculator5{

public static void main(String arguments[]) throws Exception

{

//Program variables

double Rate[] = {.0575, .0550, .0535};

int N[] = {360, 180, 84};

for (int i=0; i<3; i++) { //step thru array

double P = 200000;//*Loan amount

double J = Rate[i] /12; //*Monthly interest

double discount = (Math.pow((1 + J), N[i]) - 1) / (J * Math.pow((1 + J), N[i]));

double M = P / discount; //* Monthly payment calculation

double H;//*Current monthly interest

double C; //*Principal payment each month minus interest

double Q;//*New balance of loan

//*Output for monthly payment

java.text.DecimalFormat dfm = new java.text.DecimalFormat(",###.00");

System.out.println("Your payment for the " +N[i]+ " month loan is $" +dfm.format(M));

for (int a=0; a < N[i]; a=a+1) { //*For loop

H = P * J;

C = M - H;

Q = P - C;

P = Q;

if (a % 6 == 0) {

System.out.println("Press return to continue");

System.in.read(); //causes the program to wait for a keypress

}

System.out.println (" Principal paid this month is $" + dfm.format(C));

System.out.println (" Interest paid this month is $" + dfm.format(H));

System.out.println (" New loan balance is $" + dfm.format(Q));

}

}

}

}