Need help with Java Amortization code

Need help with Java Amortization code

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2 Replies - 1810 Views - Last Post: 08 March 2008 - 06:21 PM Rate Topic: -----

#1 gixxerman03  Icon User is offline

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Need help with Java Amortization code

Post icon  Posted 08 March 2008 - 05:51 PM

Hello everybody! I am a new java programmer student and I am in desperate need of help with my java program for a mortgage amortization. I have included my code as well. Can some one tell me what I am doing wrong. I compile the code and I have received numerous errors. Please help!

// java package
import java.text.DecimalFormat;
import java.util.Scanner;

// This will calculate a 30yr mortgage monthly payment
public class DavisMortgageCal2
{
public static void main(String[] args)
{
// declare variables
double intrest,payment;
int ammount,term;
DecimalFormat decimalPlaces=new DecimalFormat("0.00");

intrest=.0575;
ammount=200000;
term=30;
payment=(ammount*((intrest/12)/(1-Math.pow((1+(intrest/12)),-(term*12)))));

// Calculator outputs
System.out.println("Principal="+ammount);
System.out.println("intrest rate="+intrest*100);
System.out.println("Years="+term);
System.out.println("Number of payments="+term*12);
System.out.print("Monthly Payment=");
System.out.println(decimalPlaces.format(payment));

Scanner input = new Scanner(System.in);

System.out.print("Please enter the original loan amount $ (-1 to end the program): ");
ending_balance = input.nextDouble();
System.out.print("Enter the interest rate on your loan %: ");
annual_rate = input.nextDouble();

System.out.println();


DecimalFormat f = new DecimalFormat("$#,###,###.00");


// Setup a counter to count payments
int count = 1;

// Get our standard payment which is 1/360 of loan
payment = (ending_balance / 360.0);

while (ending_balance > 0.0) {
new_balance = ending_balance;

// Calculate interest by multiplying rate against balance
interest_paid = new_balance * (annual_rate / 12.0);

// Subtract interest from your payment
principle_paid = payment - interest_paid;

// Subtract final payment from running balance
ending_balance = new_balance - principle_paid;

// If the balance remaining plus its interest is less than payment amount
// Then print out 0 balance, the interest paid and that balance minus the interest will tell us
// how much principle you paid to get to zero.

if ((new_balance + interest_paid) < payment) {
System.out.println(count + ". Payment: " + f.format(new_balance + interest_paid) + " Interest: " + f.format(interest_paid) + " Principle: " + f.format(new_balance - interest_paid) + " Loan Balance is: $0.00");
}
else {
// Lets show the table, loan, interest, and payment made towards principle
System.out.println(count + ". Payment: " + f.format(payment) + " Interest: " + f.format(interest_paid) + " Principle: " + f.format(principle_paid) + " Loan Balance is: " + f.format(ending_balance));
}
count++;
}

}
}

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Replies To: Need help with Java Amortization code

#2 AbuJaFaR  Icon User is offline

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Re: Need help with Java Amortization code

Posted 08 March 2008 - 06:16 PM

If u can edit ur post and place ur code in the follow tags:

[code*]

[/code*]


Without the * :P

Its easier to read it like that :^:
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#3 gixxerman03  Icon User is offline

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Re: Need help with Java Amortization code

Posted 08 March 2008 - 06:21 PM

View PostAbuJaFaR, on 8 Mar, 2008 - 06:16 PM, said:

If u can edit ur post and place ur code in the follow tags:

[code*]
// java package
import java.text.DecimalFormat;
import java.util.Scanner;

// This will calculate a 30yr mortgage monthly payment
public class DavisMortgageCal2
{
public static void main(String[] args)
{
// declare variables
double intrest,payment;
int ammount,term;
DecimalFormat decimalPlaces=new DecimalFormat("0.00");

intrest=.0575;
ammount=200000;
term=30;
payment=(ammount*((intrest/12)/(1-Math.pow((1+(intrest/12)),-(term*12)))));

// Calculator outputs
System.out.println("Principal="+ammount);
System.out.println("intrest rate="+intrest*100);
System.out.println("Years="+term);
System.out.println("Number of payments="+term*12);
System.out.print("Monthly Payment=");
System.out.println(decimalPlaces.format(payment));

Scanner input = new Scanner(System.in);

System.out.print("Please enter the original loan amount $ (-1 to end the program): ");
ending_balance = input.nextDouble();
System.out.print("Enter the interest rate on your loan %: ");
annual_rate = input.nextDouble();

System.out.println();


DecimalFormat f = new DecimalFormat("$#,###,###.00");


// Setup a counter to count payments
int count = 1;

// Get our standard payment which is 1/360 of loan
payment = (ending_balance / 360.0);

while (ending_balance > 0.0) {
new_balance = ending_balance;

// Calculate interest by multiplying rate against balance
interest_paid = new_balance * (annual_rate / 12.0);

// Subtract interest from your payment
principle_paid = payment - interest_paid;

// Subtract final payment from running balance
ending_balance = new_balance - principle_paid;

// If the balance remaining plus its interest is less than payment amount
// Then print out 0 balance, the interest paid and that balance minus the interest will tell us
// how much principle you paid to get to zero.

if ((new_balance + interest_paid) < payment) {
System.out.println(count + ". Payment: " + f.format(new_balance + interest_paid) + " Interest: " + f.format(interest_paid) + " Principle: " + f.format(new_balance - interest_paid) + " Loan Balance is: $0.00");
}
else {
// Lets show the table, loan, interest, and payment made towards principle
System.out.println(count + ". Payment: " + f.format(payment) + " Interest: " + f.format(interest_paid) + " Principle: " + f.format(principle_paid) + " Loan Balance is: " + f.format(ending_balance));
}
count++;
}

}
}

[/code*]


Without the * :P

Its easier to read it like that :^:

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