Week four mortgage calculator program using Java JDK 1.5.0

Is this a correct compilation for this program modification? I also need comments throughout the code aswell. The code below should Modify the mortgage program to display 3 mortgage loans: 7 year at 5.35%, 15 year at 5.5 %, and 30 year at 5.75%. Use an array for the different loans (the array will be needed in the next course). Display the mortgage payment amount for each loan. Do not use a graphical user interface. Insert comments in the program to document the program.
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import java.math.*;
import java.text.*;

//class BuyaHomeCalculator

class BuyaHomeCalculator {
public static void main(String arguments[]) {

//Program Variables
double term1 = 84;
double term2 = 180;
double term3 = 360;
double interestRate1 = 0.0535;
double interestRate2 = 0.055;
double interestRate3 = 0.0575;
double loan = 200000;

double term, interestRate;

DecimalFormat df = new DecimalFormat("$###,###.00");

//Calculates the Payment per month to be paid under mortgage scheme One
interestRate=interestRate1;
term=term1;
double monthlyRate = (interestRate/12);
double discountFactor = (Math.pow((1 + monthlyRate), term) -1) / (monthlyRate * Math.pow((1 + monthlyRate), term));
double payment1 = loan / discountFactor;
//Output for mortage scheme One
System.out.println("The Loan amount is:"+df.format(loan)+"n");
System.out.println("The intrest rate is:"+interestRate*100+"%");
System.out.println("The term of the loan is:"+term/12+" years.");
System.out.println("Monthly Payment Amount: " + df.format(payment1)+"n");

//Calculates the Payment per month to be paid under mortgage scheme Two
interestRate=interestRate2;
term=term2;
monthlyRate = (interestRate/12);
discountFactor = (Math.pow((1 + monthlyRate), term) -1) / (monthlyRate * Math.pow((1 + monthlyRate), term));
double payment2 = loan / discountFactor;
//Output for mortgage scheme Two
System.out.println("The intrest rate is:"+interestRate*100+"%");
System.out.println("The term of the loan is:"+term/12+" years.");
System.out.println("Monthly Payment Amount: " + df.format(payment2) +"n");

//Calculates the Payment per month to be paid under mortgage Three
interestRate=interestRate3;
term=term3;
monthlyRate = (interestRate/12);
discountFactor = (Math.pow((1 + monthlyRate), term) -1) / (monthlyRate * Math.pow((1 + monthlyRate), term));
double payment3 = loan / discountFactor;
//Output for morgage scheme Three
System.out.println("The intrest rate is:"+interestRate*100+"%");
System.out.println("The term of the loan is:"+term/12+" years.");
System.out.println("Monthly Payment Amount: " + df.format(payment3)+"n");

}
}