This is not a class project.The program below is to display mortgage interest paid for each payment over the term of the loan and loan balance.It is program using array. However, I am receiving the following error message:
--------------------Configuration: <Default>--------------------
C:\Program Files\Xinox Software\JCreatorV4LE\MyProjects\mortgageloan\src\ mortgageloan.java:30: operator > cannot be applied to double[],int
while(balance >0)
C:\Program Files\Xinox Software\JCreatorV4LE\MyProjects\mortgageloan\src\ mortgageloan.java:33: operator * cannot be applied to double[],double[]
interest = discountfactor * balance;
^
C:\Program Files\Xinox Software\JCreatorV4LE\MyProjects\mortgageloan\src\ mortgageloan.java:34: operator - cannot be applied to double[],double
principal = monthlypayment - interest;
^
C:\Program Files\Xinox Software\JCreatorV4LE\MyProjects\mortgageloan\src\ mortgageloan.java:37: mortgagecalculator is already defined in amortize(double[],double[],double[],double[])
double [] mortgagecalculator = {200000,5.75,360,5.35,84,5.5,180};
^
C:\Program Files\Xinox Software\JCreatorV4LE\MyProjects\mortgageloan\src\ mortgageloan.java:61: cannot find symbol
symbol : method formqt(double)
location: class java.text.DecimalFormat
twoDigits.formqt(principal) + " \t\t\t " + twoDigits.format(interest)
^
C:\Program Files\Xinox Software\JCreatorV4LE\MyProjects\mortgageloan\src\ mortgageloan.java:66: operator - cannot be applied to double[],double
balance = balance - principal;// change the balance minus principal
Source code used to generate the 6 errors.
/**
* @(#)mortgageloan.java
*
* mortgageloan application
*
* @author
* @version 1.00 2006/12/8
*/
import java.math.*;//*loan calculator
import java.text.*;//*formats numbers
public class mortgageloan {
public static void amortize(double[] mortgagecalculator,double[] monthlypayment,
double[] balance, double[] discountfactor)
{
// Format for Output
DecimalFormat twoDigits = new DecimalFormat("$###,###.00");
// declare
double principal;
int num = 1;
double interest;
while(balance >0)
{
// calculate interest a it changes
interest = discountfactor * balance;
principal = monthlypayment - interest;
//array for mortgage information
double [] mortgagecalculator = {200000,5.75,360,5.35,84,5.5,180};
//Output declare new variable new java.text
java.text.DecimalFormat dfm = new java.text.DecimalFormat(",###.00");
// statment to format output
if(num <0)
{
System.out.println("\t\t\t\t" + num + ".\t\t\t\t" +
twoDigits.format(principal) + " \t\t\t " + twoDigits.format(interest) + "\t\t\t\t" + twoDigits.format(balance));
}
else if (num >=10 && num < 100)
{
System.out.println("\t\t\t " + num + ".\t\t\t\t" +
twoDigits.format(principal) + " \t\t\t " + twoDigits.format(interest) + "\t\t\t\t" + twoDigits.format(balance));
}
else if (num > 100 && num < 360)
{
System.out.println("\t\t\t " + num + ".\t\t\t\t" +
twoDigits.format(principal) + "\t\t\t" + twoDigits.format(interest) + "\t\t\t\t" + twoDigits.format(balance));
}
else
{
System.out.println("\t\t\t " + num + ".\t\t\t\t" +
twoDigits.formqt(principal) + " \t\t\t " + twoDigits.format(interest)
+ "\t\t\t "+ twoDigits.format(balance));
}
++num; //increments the variable num by 1.
balance = balance - principal;// change the balance minus principal
}
}
public static void main (String[] args){
// declare
double discountfactor;// Variable for interest
double monthlypayment; //Variable fo monthly payment
//array for mortgage information
double [] mortgagecalculator = {200000,5.75,360,5.35,84,5.5,180};
//Output declare new variable new java.text
java.text.DecimalFormat dfm = new java.text.DecimalFormat(",###.00");
//Discount factor calculator and payments for the three loans
discountfactor =(1+ (( mortgagecalculator[1]/100)/12));//discountfactor for 30year at 5.75
monthlypayment = mortgagecalculator[0] * ((discountfactor - 1) / (1 - Math.pow(discountfactor, - mortgagecalculator[2])));//calauclate mortgage for 30yeara at 5.75
System.out.println("Your monthly payment on the 30 year loan is $" + dfm.format(monthlypayment));
discountfactor = (1 + ((mortgagecalculator[3] /100)/12));//discountfactor for 7 year at 5.35
monthlypayment = mortgagecalculator[0] *((discountfactor - 1) / (1 - Math.pow(discountfactor, - mortgagecalculator[4]))); //calculate mortgage for 7 year at 5.35
System.out.println("Your monthly payment on the 7 year at 5.35 is $" + dfm.format(monthlypayment));
discountfactor = (1 + ((mortgagecalculator[5]/100)/12));//discountfactor for 15 year at 5.5
monthlypayment = mortgagecalculator[0] * ((discountfactor - 1) /(1 - Math.pow(discountfactor, - mortgagecalculator[6])));//calculate mortgage for 15 year at 5.5
System.out.println("Your monthly payment on the 15 year at 5.5 is $" + dfm.format(monthlypayment));
}
}