CIS 790             LOAN CALCULATOR            PROF. AUCIELLO

Topics:
		1. variable interest rate (0.00125)
		2. Format.print (controlled formatting)
        	3. Console.readInt  (from KB)
        	4. for loop ...
        	5. changing parameters in a for-loop.
        	6. math.pow method  (powerful procedure)
        	7. what does 'amortization' mean
                8. formula for calculating payments 
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Write the java instructions to create the following output:
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enter Principal Amount (no commas):   157000  
Interest rate in % (use 7.5 for 7.5%):  7.00
The number of years:                      30

 With rate  6.000 your payment is $    941.29
 With rate  6.100 your payment is $    951.41
 With rate  6.200 your payment is $    961.58
 With rate  6.300 your payment is $    971.79
 With rate  6.400 your payment is $    982.04
 With rate  6.500 your payment is $    992.35
 With rate  6.600 your payment is $   1002.69
 With rate  6.700 your payment is $   1013.09
 With rate  6.800 your payment is $   1023.52
 With rate  6.900 your payment is $   1034.00
 With rate  7.000 your payment is $   1044.52
 With rate  7.100 your payment is $   1055.09
 With rate  7.200 your payment is $   1065.70
 With rate  7.300 your payment is $   1076.35
 With rate  7.400 your payment is $   1087.04
 With rate  7.500 your payment is $   1097.77
 With rate  7.600 your payment is $   1108.54
 With rate  7.700 your payment is $   1119.35
 With rate  7.800 your payment is $   1130.20
 With rate  7.900 your payment is $   1141.08
 With rate  8.000 your payment is $   1152.01

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
Note that printout starts with 1  point below and 
                   ends   with 1  point above current interest rate.

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Following are the java instructions in English:

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1.  Start program with an optional comment that describes it.
2.  Link with corejava libraries.
3.  Name program as "loancalc";  the name of the class object.
4.  Open bracket. followd by a statement that means this class will be 
    available to other classes, and objects in same workspace; that 
    means this method initializes and does not return a result.  That 
    has a main method, always declared public, and has as its only 
    parameter an array of Strings type used for command line parameters.               
5.  Begin bracket that defines 'main' class; define principal and 
    yearlyInterest as Doubleword, floating point variables.
6.  define years as an integer.
7.  Prompt the user to enter the loan amount, read it as a doubleword,
    and stuff it into "principal".
8.  Read in yearlyinterest from keyboard and divide by 100 before
    assigning it to a variable.
9.  Accept value for years from console.
10. Define y as a doubleword.
11. Begin a loop that starts 1 point below yearlyinterest, ends with
    1 point above, and autoincrements by 1/10 of a point.
12. Inside brackets, calc monthlyinterest = to yearlyinterest/12.
13. Calculate payment (2 line formula).
14. Print out rate    in a formatted field, without a linefeed.
15. Print out payment in a formatted field, without linefeed.
16. Print a blank line [line feed]: (advances line).  
17. Close innermost bracket (loop)
18. Close next set of brackets.
19. Close outermost set of brackets.
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import corejava.*;
{ double monthlyInterest = y / 12;
  double payment = principal * monthlyInterest / 
  (1-(Math.pow((1/(1 + monthlyInterest)),years*12)));
{ public static void main(String args[])
{ double principal;       
  years = Console.readInt ("The number of years: ");
  double y;
// CIS 790       LOAN CALCULATOR   Your Name   Prof. Auciello  
   Format.print(System.out," With rate %6.3f", 100*y);
   class loancalc
   for (y= yearlyInterest - 0.01;
   y<=yearlyInterest + 0.011; y += 0.00100)
   double yearlyInterest;
   int years;
   principal = Console.readDouble ("Loan Amount (no commas):");
   yearlyInterest = Console.readDouble("Interest rate in % (use 7.5 for 7.5%): ")/100;
   Format.print(System.out," your payment is $%10.2f", payment);
   System.out.println(" ");
                 }
      }
 }
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Be sure that you save it as loancalc.java  (4 letter extension).
Compile it.  Run it.  Screen Capture it.  Paste into document.
Put into HW notebook for 100 points.