/*
PRG/420 Week 3 Assignment: Mortgage Calculator Program
Programmer: Eva Manicom
Date: March 1, 2010
Filename: Mortgage Calculator Program
Purpose: Modify the mortgage program to display the mortgage payment amount. Then, list the loan balance and
interest paid for each payment over the term of the loan. The list would scroll off the screen, but
use loops to display a partial list, hesitate, and then display more of the list. Do not use a graphical
user interface. Insert comments in the program to document the program.
*/
//will format decimals for program
import java.text.DecimalFormat;
//Name of program: MortgageCalculatorProgram
public class MortgageCalculatorProgram
{
public static void main(String[] arguments)
{
// define variables, payments, principle, interest, rate, and loan information
double monthlyPayment;
double principal;
double interestRateYears;
double interestRateMonths;
int termYears;
int termMonths;
int linecount;
// will display balance, interest paid, principle, interest payments
double balance;
double interestPaid;
double principalPaid;
double monthlyInterestPayment;
double monthlyPrincipalPayment;
// assign values to each item
principal = 200000;
interestRateYears = .0505;
interestRateMonths = (interestRateYears / 12) / 100;
termYears = 30;
termMonths = (termYears * 12);
monthlyInterestPayment = 0;
monthlyPrincipalPayment = 0;
balance = principal;
// display 10 lines of results at one time
linecount = 10;
// will only display two decimal places out
java.text.DecimalFormat dec = new java.text.DecimalFormat(",###.00");
// hard coded information per assignment
System.out.println("\n\n\t*** Mortgage Calculator ***\n\n" +
"\nLoan Amount: \t$" + dec.format(principal) +
"\nInterest Rate: \t" + interestRateYears +"%" +
"\nTerm (Years): \t" + termYears);
// will calculate monthly mortgage payment
monthlyPayment = (principal * interestRateMonths) /
(1 - Math.pow(1 + interestRateMonths, - termMonths));
// Print the information
System.out.println("\n\nBased on the information, " +
"the monthly payment amount will be: " +
"$" + dec.format(monthlyPayment));
// calculation
monthlyInterestPayment = (balance * interestRateMonths);
monthlyPrincipalPayment = (monthlyPayment - monthlyInterestPayment);
// provides columns
System.out.println("\n\n\nMonths\t\tPrincipal\tInterest\tBalance");
System.out.println("Remaining\tPayment\t\tPayment\t\tRemaining");
System.out.println("--------- \t--------- \t--------- \t---------");
// start the while loop
while (termMonths > 0)
{
// information to be displayed
System.out.println(termMonths + "\t\t$" + dec.format(monthlyPrincipalPayment) +
"\t\t$" + dec.format(monthlyInterestPayment) +
"\t\t$" + dec.format(balance - monthlyPrincipalPayment));
// decrement of months
termMonths--;
// calculate interest and principal payments on the loan
monthlyInterestPayment = (balance * interestRateMonths);
monthlyPrincipalPayment = (monthlyPayment - monthlyInterestPayment);
balance = (balance - monthlyPrincipalPayment);
// this will cause the results to pause
if(linecount == 10)
{
linecount = 0;
try
{
Thread.sleep(2000);
}
catch (InterruptedException e)
{
}
}
// end if
else
{
linecount++;
}
// end else
}
// end while
}
// end main
}
************************************************
/*
PRG/420 Week 4 Assignment: Mortgage Array Program
Programmer: Eva Manicom
Date: March 8, 2010
Filename: MortgageArray
Purpose: Modify the mortgage program to display 3 mortgage loans:
7 year at 5.25%, 15 year at 5.45 %, and 30 year at 5.05%.
Use an array for the different loans (the array will be needed in the next course).
Display the mortgage payment amount for each loan. Do not use a graphical user interface.
Insert comments in the program to document the program
*/
import java.io.*; // java input output package
import java.text.DecimalFormat;
class MortgageArray1
{
public static void main(String[] arguments)
{
//starts the array
double amount = 200000;
int[]term = {7, 15, 30};
double[] rate = {.0525, .0545, .0505};
DecimalFormat twoDigits = new DecimalFormat("$000.00");
System.out.println("With the loan amount of " +twoDigits.format
(amount));
for (int i = 0; i < rate.length; i++)
{
System.out.print("for " + term[i] + " years");
System.out.print("\tat a rate of " + rate[i]);
double payment = (amount*(rate[i]/12))/(1-(Math.pow(1/(1+(rate
[i]/12)),(term[i]*12))));
System.out.println("\tThe monthly payment will be " +
twoDigits.format(payment));
}
}
}