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Is there an easy way for me to combine these two programs? What I am wanting to use an array for the different loans. Display the mortgage payment amount for each loan and then list the loan balance and interest paid for each payment over the term of the loan. Use loops to prevent lists from scrolling off the screen. Here are the two programs I have so far. Any guidance is appreciated.

*/
 import java.io.*;  // java input output package
 import java.text.DecimalFormat; // allows placement of decimal
 
public class MonthlyPayments4e extends Thread //class header with "Thread" for sleep
{
 public static void main(String[] args)
 {
 
 double Loan, NewBal, MIP;
   double Rate, MonthlyInterest, Payments; //double precision variables
 
 
   //assign values to variables
 Loan= 200000; // loan amount
 Rate = .0575; //interest rate
 MonthlyInterest = Rate / 12; // interest for each month
     Payments = Loan * (MonthlyInterest / (1 - Math.pow(1+MonthlyInterest, -360))); //my formula
  DecimalFormat twoDigits = new DecimalFormat("$,000.00"); // declares decimal format
  MIP= (Loan * Rate) / 12;
  NewBal = Loan -(Payments-MIP);
  System.out.println("Monthly Payments Interest Paid This Payment Loan Balance");
     System.out.println();//my printout provides extra line
     System.out.print("  " + twoDigits.format(Payments)); //my printout
  System.out.print("\t\t\t" + twoDigits.format(MIP));//my printout
  System.out.println("\t\t\t" + twoDigits.format(NewBal));//my printout
    System.out.print("  " + twoDigits.format(Payments)); //my printout
  MIP=(NewBal*Rate)/12;
  System.out.print("\t\t\t" + twoDigits.format(MIP));//my printout
  NewBal=NewBal -(Payments-MIP);
  System.out.println("\t\t\t" + twoDigits.format(NewBal));//my printout
  System.out.print("  " + twoDigits.format(Payments)); //my printout
 
  while (NewBal > 1) //while loop to make computations continue until gets to $200000
 {
 
  MIP=(NewBal*Rate)/12;
  System.out.print("\t\t\t" + twoDigits.format(MIP));//my printout
  NewBal=NewBal -(Payments-MIP);
  System.out.println("\t\t\t" + twoDigits.format(NewBal));//my printout
  System.out.print("  " + twoDigits.format(Payments)); //my printout
 
if (NewBal <100000) // tells when this is met to transition to sleep phase
 
  try
       {
         Thread.sleep (500); //sleep phase needed per change request also states pause is 500 milliseconds
       }
       catch (InterruptedException e)
       {
    }
 
 
 
 
 
  }
 }
}
*/
 import java.io.*;  // java input output package
 import java.text.DecimalFormat;
 
public class MonthlyPayments5  //class header
{
 public static void main(String[] args) //don't know if this is needed or not but here it is
 {
 double Loan;
   double Rate1,Rate2,Rate3, MonthlyInterest1,MonthlyInterest2,MonthlyInterest3,Payment1,Payment2,Payment3; //double precision variables
   //assign values to variables
   Loan= 200000; // loan amount
   Rate1 = 5.75;
   Rate2 = 5.5;
   Rate3 = 5.35;
   MonthlyInterest1 = (Rate1 / 100) / 12;
   MonthlyInterest2 = (Rate2 / 100) / 12;
   MonthlyInterest3 = (Rate3 / 100) / 12;
 
     Payment1 = Loan * (MonthlyInterest1 / (1 - Math.pow(1+MonthlyInterest1, -360))); //my formula
     Payment2 = Loan * (MonthlyInterest2 / (1 - Math.pow(1+MonthlyInterest2, -180))); //my formula
     Payment3 = Loan * (MonthlyInterest3 / (1 - Math.pow(1+MonthlyInterest3, -84))); //my formula
  DecimalFormat twoDigits = new DecimalFormat("000.00");
     System.out.println("\tYour Monthly Payments for 30 years are:\t $" + twoDigits.format(Payment1)); //my printout
     System.out.println("\tYour Monthly Payments for 15 years are:\t $" + twoDigits.format(Payment2)); //my printout
     System.out.println("\tYour Monthly Payments for 7 years are:\t $" + twoDigits.format(Payment3)); //my printout
 }
}
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Last Post by korbynlehr
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Here is my updated code:

import java.io.*;  // java input output package
 import java.text.DecimalFormat; // java package for the decimal
class PaymentArray3 extends Thread //class name
{
 public static void main(String[] arguments)
 {
  double Loan=200000;
  double NewBal;
  double amount = 200000; // loan amount with double for
  int[]term = {7, 15, 30}; //length of the loans with array string
  double[] rate = {.0535, .055, .0575}; //interest rate in decimal format of the loans with array string
   DecimalFormat twoDigits = new DecimalFormat("$000.00"); // tells what format the dedimal must follow
 
   System.out.println("\t\tWith a loan amount of  " +twoDigits.format(amount)); // First line of print out
  for (int i = 0; i < term.length; i++) //initializing the array
  {
   {
 
    System.out.print("for " + term[i] + " years"); // prints out the number of years each loan is for
    System.out.print("\tat a rate of " + rate[i]); // prints out the rates of each loans
    double payment = (amount*(rate[i]/12))/(1-(Math.pow(1/(1+(rate[i]/12)),(term[i]*12)))); // formula for loans with array pointers
    System.out.println("\tThe monthly payment will be " + twoDigits.format(payment)); // printout of actual monthly payments
    NewBal = amount -(payment-rate[i]);
    while (NewBal > 1) //while loop to make computations continue until gets to $200000
      NewBal = amount -(payment-rate[i]);
 
     rate[i]=(NewBal)(term)/12;
     System.out.print("\t\t\t" + twoDigits.format(rate[i]));//my printout
     NewBal=NewBal -(payment-rate[i]);
     System.out.println("\t\t\t" + twoDigits.format(NewBal));//my printout
     System.out.print("  " + twoDigits.format(payment)); //my printout
 
   if (NewBal <100000) // tells when this is met to transition to sleep phase
 
     try
          {
            Thread.sleep (500); //sleep phase needed per change request also states pause is 500 milliseconds
          }
          catch (InterruptedException e)
          {
       }
 
 
   }
  }
 }
}
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