I have already turned this so my grade will off anyway but I just need to know. I cannot get the right figure for this calculation, here is what I have and it gives me the wrong calculation of 7178. when its supossed to be 1167. Any help would greatly appreciated. The bolded text is what is wrong.
class MortgageCalculatorx
{
//Program Variables
public static void main(String[] args)
{
double Loan = 200000; // *$200,000 Loan
int Term = 360; //*360 Months
double InterestRate = .0575; //*5.75% interest rate
double Interest = Loan * InterestRate; // calculate interest
double Payment = Loan * InterestRate / 1 - (InterestRate + 1) - 12 * Term; // monthly payment
//Output
System.out.println ();
System.out.println (" This is my mortgage calculator" );
System.out.println ();
System.out.println (" Your loan amount is $"+ Loan); //*prints loan amount
System.out.println ();
System.out.println (" Your interest rate is $"+ InterestRate); //*prints interest rate
System.out.println ();
System.out.println (" Your payment time is " + Term/12 + " years"); //*prints loan term
System.out.println ();
System.out.println (" Your monthly payment is $"+ Payment); //*prints monthly payment
System.out.println ();
}
}
