Need help programming mortagage calculator for 3 different loans 7 year, 15 year and 30 year. using java array I am a beginner with Java, This is what I have so far. Need to know if I am off the path,
import java.math.*;//*loan calculator
import java.text.*;//*formats numbers
public class 3 Mortgage loans {
// declare class variable array
int[] mortgage calculator
//construct the array
mortgage calculator = new int[17];
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double loan = 200000
double term1 =360//*360 month for 30 year mortgage
double interRate1 = 0.0575; //*5.75% 5.75/100interest rate 30year mortgage
double monthlyRate1 = (interestRate1/12)
double term2 = 84//*7year mortgage loan
double interestRate2 = 0.0535;//*5.35 5.35/100 interest rate 7 year mortgage
double monthlyRate2 = (interestRate2/12);//*rate calculation on 7 year mortgage loan
double term3 = 180
// 15 year mortgage
double interestRate3 = 0.0550;//*5.5 5.5/100 interest rate on 15 year mortgage
double monthlyRate3 = (interestRate3/12);//* monthlyRate for 15 year mortgage
//Discount factr calculator for the three loans
double discountFactor1 = (Math.pow ((1 + monthlyRate1),
term1)-1/(monthlyRate1 * Math.pow((1 + monthlyRate1),term1));
double discountFactor2 = (Math.pow((1 + monthlyRate2),term2)-1/
(monthlyRate2* Math.pow((1 + monthlyRate2),term2));
double discountFactor3 = (Math.pow((1 + monthlyRate3), term3) - 1)/
(monthlyRate3 * Math.pow((1 + monthlyRate3), term3));
double payment1 = loan/discountFactor1; //*Rate Calcualtion for 30 yearn mortgage
double payment2 = loan/discountFactor2; //*Rate Calculaion for 7 year morgage
double payment3 = loan/discountFactor3; //*Rate Clculation for 15 year mortgage
use public class MortgageLoans as the class name. The one you have is invalid.
You should define 3 arrays of type double not one of type int
You will also need a loop to calculate the monthly repayments amounts.
Make the above corrections and post the code
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