# JAVA Help Arrays

Not what you're looking for?

Modify the Mortgage Calculator Design to calculate and display the payment amount for each of three loans:

a 7 year at 5.35%

b 15 year at 5.5%

c 30 year at 5.75%

The program does not need to print an amortization table for the loans, just the payment amount. The payment amount needs to be two decimal points. The loan data should be held in an array.

I have provided the original loan amount below and the formula to be used. I also included the java program attachment.

**Please note the loan amount is principal = $200,000.

**Basic payment formulaTo calculate the mortgage payment, use the following formula:

PMT = (PV x IR) / (1 - (1 + IR)-NP)

Java implementation: PMT = (PV * IR) / (1 - Math.pow(1 + IR, -NP))

Where:

PMT = Monthly Payment

PV = Principle Value (amount of loan)

IR = Interest Rate, by month

NP = Note Period, or mortgage term in months

IR = APR / 100 / 12

NP = Years * 12 (for example, 5 years means NP = 60)

APR = Annual Percentage Rate (for example 6.25)

Use the formula above when APR > 0.

If APR = 0 (an interest-free loan), then PMT = PV / NP.

##### Purchase this Solution

##### Solution Summary

A Java array for modified mortgage calculators are examined.

##### Purchase this Solution

##### Free BrainMass Quizzes

##### Word 2010: Table of Contents

Ever wondered where a Table of Contents in a Word document comes from? Maybe you need a refresher on the topic? This quiz will remind you of the keywords and options used when working with a T.O.C. in Word 2010.

##### Java loops

This quiz checks your knowledge of for and while loops in Java. For and while loops are essential building blocks for all Java programs. Having a solid understanding of these constructs is critical for success in programming Java.

##### Inserting and deleting in a linked list

This quiz tests your understanding of how to insert and delete elements in a linked list. Understanding of the use of linked lists, and the related performance aspects, is an important fundamental skill of computer science data structures.

##### Word 2010: Tables

Have you never worked with Tables in Word 2010? Maybe it has been a while since you have used a Table in Word and you need to brush up on your skills. Several keywords and popular options are discussed as you go through this quiz.

##### C# variables and classes

This quiz contains questions about C# classes and variables.