import static java.lang.Math.*;
import java.util.*;
import java.io.*;
import java.text.*;
public class mortgageCalculator3 {
public static void main(String[] args) throws IOException{
NumberFormat currency=NumberFormat.getCurrencyInstance();
System.out.println("Juanita Smith");
System.out.println("Week 4 Assignment");
System.out.println("Mortgage Calculator");
System.out.println("August 29, 2011");
pauseProg(); // code to pause program found at
//http://codewithdesign.com/2010/01/17/create-a-press-enter-to-continue-with-java/
}
public static void pauseProg() throws IOException{
System.out.println("Press enter to continue…");
Scanner keyboard = new Scanner(System.in);
keyboard.nextLine();
//Calculate the monthly mortgage payment for a 20,000 loan
//with 5.35 percent interest over seven years…
//and 5.5 percent interest over 15 years…
//and 5.75 percent interest over thirty years.
// define the array of interest rates for all necessary terms
double [] APR = {0.0535, 0.055, 0.0575};
//define array of note period for all necessary terms
int [] NP= {84, 180, 360};
//define array of terms for output
int [] Terms= {7,15,30};
//interest rate per month
double IR= (double) (APR/12);
//principle Value
int PV= 200000;
//monthly payment with interest
double PMT= (200000 * IR)/(1-Math.pow(1+IR,-NP));
//monthly payment without interest
double MPMT = 200000/360;
//Loan total with interest
double BT =(PMT*360);
///the actual number of payments
int NPMT = 0;
//actual amount paid
double PMTD= (PMT * NPMT);
//loan balance after given number of payments has been made
double Balance= (BT-PMTD);
//Interest paid so far for each payment
double IRT= (IR * NPMT);
//number of payments in the Mortgage in Years
int NPY = 30;
//monthly payment without interest
double PMTI= PMT-IR;
//input more necessary tools
NumberFormat currency=NumberFormat.getCurrencyInstance(); //allows currency format
InputStreamReader isr = new InputStreamReader(System.in); //alls reading strings
BufferedReader bfr = new BufferedReader(isr);// allows another pause in the program
//for loop to calcullate and display the terms
for (int i=0;i<NP.length;i++){
System.out.println("Monthly Payment on a 0,000 loan over" + Terms +"years");
System.out.println("at " + APR*100 + "% interest is");
System.out.println(currency.format(PMT));
System.out.println();
}
}
}
The PMT calculation it says – cannot be applied in the -NP
The IR calculation it says / cannot be applied in the APR/12
The System.out.println it says * cannot be applies in the APR*100
These are the only errors I am getting right now. Yes, this is in Java ( I ran out of characters for the question). I would really like to know what I am doing wrong so I can finish this. Please! Thank You!
After a quick look at it, I think the problem is you are not specifying the element of the array, so you are telling it to try to do math on the whole array.
For example:
double IR= (double) (APR/12);
should be:
double IR= (double) (APR[0]/12)
This references element 0 of APR which you defined as 0.0535.
I’m not sure about this since I don’t know Java.
You can’t multiply or divide arrays, you need to specify an index to retrieve the int or double from the array and then do these operations.
EG:
double IR= (double) (APR/12); // wrong
double IR= (double) (APR[0]/12); // correct
APR, NP and Terms are all arrays.
In your code example above, you have a "for" loop,
for (int i = 0; i < NP.length; i++)
but within that "for" loop, you then have a System.out where you say:
System.out.println("at " + APR * 100 + "% interest is");
But APR is an array of doubles – so what you need to do is to change the code to say:
System.out.println("at " + APR[i] * 100 + "% interest is");
instead – so you are reading the APR for index i in the array – which I think should do what you want.
The problem in your code is at-
//interest rate per month
double IR= (double) (APR/12);
You can’t perform arithmetic operations on arrays, but you can with their values –
double IR= (double) (APR[i]/12); OR double IR= (double) (APR[0]/12);
Here APR[0] refers to the first value of the array ie. 0.0535
And the same mistake is repeated at-
//interest rate per month
double IR= (double) (APR/12);
double PMT= (200000 * IR)/(1-Math.pow(1+IR,-NP));
System.out.println("at " + APR*100 + "% interest is"); & so on & so forth