/*import java.io.*; //Java input and output */
import java.math.*; //This is so I can do math in my program
import java.text.DecimalFormat; //This is so I can use text and decimals in my program
public class MortgageCalculator //Name program is saved under and class
{
public static void main(String[] args){
//Declares and builds the variables
int loanAmount = 200000;
int loanTerm = 360;
double interest = .0575;
double monthlyPayment = interest/12;
double loanBalance = 0;
double intrestPaid = 0;
double paymentNo = 0;
double downPayment = 20000;
double intrestMonthly = 0;
double interestPaid = 0;
//Displays the mortgage calculator data
System.out.println("*******This is Kelly's Mortgage Calculator*******");
System.out.println("\nThe Mortgage Priciple is:" + loanAmount);
System.out.println("\nThe down payment is: " + downPayment);
System.out.println("\nThe years for this loan is: " + loanTerm);
System.out.println("\nThe intrest rate is: " + interest);
System.out.println();
//Declares formula
monthlyPayment = (loanAmount*(interest/12)) / (1 - 1 /Math.pow((1 + interest/12), loanTerm));
System.out.println("The monthly payment is: $" + monthlyPayment);
System.out.println();
//Declares and builds three new variables
int lineCount = 20;
loanBalance = loanAmount - monthlyPayment;
//Starts loop statement,and declares formula for loan balance and interest paid
while (loanBalance > 0){
//Displays the loan balance and interest paid
System.out.println("The loan balance is: $" + loanBalance);
System.out.println("The interest paid on the loan is: $" + interestPaid);
//Pauses screen
if (lineCount >0) {
lineCount--;
for (int i=1; i <= 30*12 && (loanBalance>0); i ++)
{
//Stop each year every 12 months
if ((i-1)%12 ==0){
try
{
//Stops for one second
Thread.sleep(1000);
// Output for loan information, monthly payment, and amortization schedule of payments
System.out.println("Payment No" + "/t/t" + "Payment Amount" + "/t/t" + "Loan Balance" + "/t/t" + "Interest Paid");
**************Problem Area - I think ******************* System.out.println(format(paymentNo.format(i)) + " " + format(MonthlyBalance-MonthlyPrincipal)+ " " + format(monthlyPayment-monthlyPrincipal));
System.out.println("\n");
}
catch (Exception e)
{
/*System.out.println(formate(paymentNo.format(i)) + /t/t + format(loanBalance
formatter.format(paymentNo) + \t + formatter.format(loanBalance -=principalPaid;
interestPaid = loanBalance*monthlyInterestRate;principalPaid = payment - interestPaid; */
}
}
}
}
}
}
}
Experts Exchange (EE) has become my company's go-to resource to get answers. I've used EE to make decisions, solve problems and even save customers. OutagesIO has been a challenging project and... Keep reading >>
Our community of experts have been thoroughly vetted for their expertise and industry experience.