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    A Java mortgage calculator

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    Write the program in Java (without a graphical user interface) and have it calculate the payment amount for 3 mortgage loans:

    - 7 year at 5.35%
    - 15 year at 5.5%
    - 30 year at 5.75%

    Use an array for the different loans. Display the mortgage payment amount for each loan and then list the loan balance and interest paid for each payment over the term of the loan. Use loops to prevent lists from scrolling off the screen.

    © BrainMass Inc. brainmass.com October 9, 2019, 11:00 pm ad1c9bdddf

    Solution Preview

    This solution uses a Java class, Mortgage, to calculate the mortgage
    payments for a few different configurations. All of the processing is
    handled by this one Java class.

    To make things easier we have a method that will process one loan configuration.
    This method takes in an interest rate, the principle, and the term.
    It ...

    Solution Summary

    This solution provides a full Java implementation of a non-GUI mortgage calculator. The solution uses arrays and classes.