Open Question: Help with java program?

[Administrator]

I did allright with the program, but now I have to add an array of 7 years payment amount @ 5.35%, 15 years payment amount @ 5.5%, and I have yet to be ableto put this into a decimal place of two. This has been a very complicated addition to an easy program. How can I do this? import java.text.DecimalFormat; public class MortgagePayment { public static void main(String args[]) throws Exception { //declare and construct variables int loanAmt = 200000; // this is the principal loan amount int loanTerm = 30; // this is the loan term in years int monthNum = 360; // indicates the monthly line item number int line = 0; double intRate = 5.75; // this is the initial interest rate double monthlyPay = 0; // monthly payment double monPrinPay; // monthly principal payment double newLoanBal = 200000; // the loan balance double monIntPaid; // interest paid double newIntRate = 0; // monthly interest rate // displays in the console window System.out.println(); System.out.println(Welcome to Anne's Mortgage Payment Calculator); System.out.println(); System.out.println(This program will calculate and display: (1) Monthly mortgage payments); System.out.println(The principal loan amount = $ + loanAmt); System.out.println(The interest rate = + intRate + %); System.out.println(The term of the loan = + loanTerm + years); // construct the formulas loanTerm = loanTerm * 12; newIntRate = (intRate * .01) / 12; monthlyPay = loanAmt * newIntRate / (1 - Math.pow(1 + newIntRate, - loanTerm)); // displays the variable information and formula results System.out.println(); System.out.println(The monthly payment for a $ + loanAmt + over a + loanTerm + -month term (30 years) at a ); System.out.println(intRate + % interest rate = $ + monthlyPay); System.out.println(); } }

More...