Java mortgage calculator (no GUI)
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Write the program in Java (without a graphical user interface) using a loan amount of $200,000 with an interest rate of 5.75% and a 30 year term. Display the mortgage payment amount and then list the loan balance and interest paid for each payment over the term of the loan. If the list would scroll off the screen, use loops to display a partial list, hesitate, and then display more of the list.© BrainMass Inc. brainmass.com March 6, 2023, 8:15 pm ad1c9bdddf
There are two main parts to this solution. First, we need to calculate the monthly payment. Second, we will need to show the balance each month as the payment is applied.
Calculating the monthly payment is not just a matter of dividing the principle ...
This solution provides a complete Java program for doing a mortgage calculation.