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# 3 mortgage loan calculator

 P: 4 please help resolve some error messages code is compling with errors see below the code. I am new at this please help! /** * @(#)3 Mortgage loans.java * * 3 Mortgage loans application * * Phyllis J Jones * Purpose to write a program in Java without a graphical user interface and have it calculate the payment amount for 3 mortgage loans. */ import java.math.*;//*loan calculator import java.text.*;//*formats numbers public class MortgageLoans { // declare class variable array double mortgage calculator1[]; double mortgage calculator2[]; double mortgage calculator3[]; //construct the array mortgage calculator1 = new double; mortgage calculator2 = new double; mortgage calculator3 = new double; 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 //loop While not done while(loan > 0) { java.text.DecimalFormat dfm = new java.text.DecimalFormat(",###.00"); System.out.println("Your monthly payment is \$" + dfm.format(payment)+ "cemts"); // loop while done if(loan>0) { double payment1 = loan/discountFactor1;//*Rate Calculation double payment2 = loan/discountFactor2;//*Rate Calculation double payment3 = loan/duiscountFactor3;//*Rate Calculation } else payment1 = payment/discountFactor1;//Rate Calculation payment2 = payment/discountFactor2;//Rate Calcuklation payment3 = payment/discountfactor3;//Rate Calculation } //Output } } Dec 8 '06 #1 