/*G
Mortgage Calculator
04/07
*/




import java.text.NumberFormat;
import java.util.Locale;


public class Mortgage2
{
public static void main (String args[] ) //main function
{
//Declare variables
//Set interest, amount and number of years

double amount = 200000.00; // loan amount
double term[] = 30, 15, 7;
double rate[] = 5.75, 5.5, 5.35/100; // converts to percentage
for(icount=0; icount<4; icount++) // loops through
rate = rate/12;
NumberFormat moneyformat = NumberFormat.getCurrencyInstance (Locale.US);
double result = (amount=rate)/(1-Math.pow(1/(1+rate[1]),term * 12));
String strResult = moneyFormat.format(result);

//Print to screen

System.out.println("McBride Financial Services Mortgage Calculator");
System.out.println();
System.out.println("Principal:\t\t"+amount);
System.out.println("Interest rate:\t\t"+term);
System.out.println("Years:\t\t\t"+rate);}

}

To begin with, you are missing braces from your array declarations:



I am not sure what you want to store in your next array:

Is that storing 3 different rates? Are they all supposed to be divided by 100 or just the last one?

You cannot do this:

Because rate is an array, you would have to name the array item you wanted to divide by 12 i.e.


I'm not really sure exactly what the program is for though, maybe you could post the question you've been set too?

Well, I hope that helps you a bit

import java.text.NumberFormat;
import java.util.Locale;


public class Mortgage2
{
public static void main (String args[] ) //main function
{
//Declare variables
//Set interest, amount and number of years
{nrate = rate[icount]/12;
NumberFormat moneyformat = NumberFormat.getCurrencyInstance (Locale.US);
double result = (amount*rate)/(1-Math.pow(1/(1+term[icount]),term * 12));
String strResult = moneyFormat.format(result);
double amount = 200000.00; // loan amount
double term[] = {30, 15, 7};
double rate[] = {5.75, 5.5, 5.35}; // converts to percentage
for(icount=0; icount<4; icount++); // loops through

//Print to screen

System.out.println("McBride Financial Services Mortgage Calculator");
System.out.println();
System.out.println("Loan Amount:\t\t"+amount);
System.out.println("Interest rate:\t\t"+rate[icount]);
System.out.println("Years:\t\t\t"+term[icount]);}
{
}
I am trying to calculate the payment amount for 3 mortgage loans:

- 7 year at 5.35%
- 15 year at 5.5%
- 30 year at 5.75%

Use an array for the different loans. Display the mortgage payment amount for each loan.

OK, I've got what you have working, but you might need to check it's actually accurate

I am doing a tax calculator(without a GUI) and I dont even know where to start any help you can give will be very nice

Well, if the tax calculation is similar to your mortgage calculator, you should be able to use the mortgage program that you have, and modify the numbers and calculation part to apply to your tax problem instead. Without knowing exactly what the question is, it's a bit difficult to advise you more than that, but basically it should work in the same way as your mortgage one.