Question: java program

raj flavian
java program
1 Answer(s)      6 years and a month ago
Posted in : Java Beginners

Write a program that computes loan payments. The loan can be a car loan, a student loan, or a home mortgage loan. The program lets the user enter the interest rate, number of years, loan amount, and displays the monthly and total payments. (using GUI input) use (import javax.swing.JOptionPane)

April 4, 2011 at 12:30 PM

```import javax.swing.*;
import java.text.*;
public class CalculateLoan{
public static void main(String[] args) {
DecimalFormat df=new DecimalFormat("##.##");
double payment=0, interestrate=0, loanamount=0, years=0;

loanamount = Double.parseDouble(JOptionPane.showInputDialog(null,"Loan Amount:"));
interestrate =  Double.parseDouble(JOptionPane.showInputDialog(null,"Interest Rate:"));
years = Double.parseDouble(JOptionPane.showInputDialog(null,"Number of Years:"));

if(interestrate > 1){
interestrate = interestrate / 100;
}
payment =  (interestrate * loanamount / 12) / (1.0 - Math.pow(((interestrate / 12) + 1.0), (-(12 * years))));
System.out.println("Loan Amount:\t" + loanamount);
System.out.println("Interest Rate:\t" + (df.format(interestrate * 100)) + "%");
System.out.println("Number of Years:\t" + years + " (Months: " + years * 12 + ")");
System.out.println("The Monthly Payment:\t" + (df.format(payment)));
System.out.println("The Annual Payment:\t" + (df.format(payment*12)));
}
}
```

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