Mortgage Calculator Part 1-4
1) This is most important I need ORIGINAL code
2) The code must have good comments and be clean
3) I need parts 1 and 2 by today 11/30/09
4) This is also very important I need each Part ex. 1, 2, 3, 4 as they are completed in separate files. (So please don’t do parts 1-4 and then give me the completed files)
5) The formulas included as well as the instructions listed must be used exactly. (a copy of the instructions and formulas will be in a attached .doc file)
Here are the requirements:
Part 1
Design a program that calculates and displays the mortgage payment amount given the amount of the mortgage, the term of the mortgage, and the interest rate of the mortgage. In first iteration of the program, hard code the principal = $200,000, the term = 30 years, and the annual interest rate = 5.75%.
Part 2
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.
Part 3
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.
Part 4
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.
End Calculate Amortization Table
