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Need helping figuring out the error message I am getting on my Java Mortgage Calculator program.

Posted on 2011-03-19
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Last Modified: 2012-05-11
//Filename MortgageCalWk3_code
//Written by Jennifer Pike
//SR description: Write a program in Java (without GUI) using a loan amount of $200,000 wityh an interest rate of 5.75% over a 30 year term.
//Display the mortgage payment and then list the loan balance and interest paid for each payment over the term of the loan.
//If the list would scroll off the screen, use loops to display a partial list, hesitate, and then display more of the list.

import java.text.*;
import java.util.*;
public class mortgagePayment_wk3
{
public static void main(String[] args)
{
//declaration statements
int length=30; // 30 year mortgage
double Principal=200000.00; //Loan Amount
double InterestRate=5.75;
double monthly_payment = 0.00;
double monthly_principal= 0.00;
double monthly_interest = 0.00;
NumberFormat currency= NumberFormat.getCurrencyInstance
double y_rate = (rate /100/12);
double monthly_payment = balance * ( y_InterestRate / (1 - Math.pow((1+y_InterestRate),-1*(length*12) ) ));
y_InterestRate = (InterestRate/100)/12;
System.out.println("\t\tMortgage Payment Formula");
System.out.println("\t\tBalance own is $200,000");
System.out.println("\t\tYearly interest rate is 5.75%");
System.out.println("\t\tThe length of loan is 30 years\n");

// start of loop to calculate interest paid and balance owe
// print statement as balance increment,as interest increment
for (int mpi =1; mpi<=length*12; mpi++) { // months of payment being decrimented start counter
monthly_interest = (balance*y_InterestRate);
balance = (balance - monthly_Principal);
monthly_principal = (monthly_payment - monthly_interest);
System.out.println("Balance is $" + currency.format(balance));
System.out.println("Interest paid is $" + currency.format(monthly_interest));

try {Thread.sleep(10);} catch (InterruptedException e){}

}
}
}



1 error found:
File: C:\Mortgage\mortgagePayment_wk3.java  [line: 20]
Error: C:\Mortgage\mortgagePayment_wk3.java:20: ';' expected
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Question by:Indy717
1 Comment
 
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Accepted Solution

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crysallus earned 500 total points
ID: 35173892
try:

NumberFormat currency= NumberFormat.getCurrencyInstance();

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