MortCalc

/**
 *
 * @author Damien Bell <SkyeShatter>
 */
import java.text.NumberFormat;
import java.util.Scanner;
public class MortPayments {
public static void main(String[] args){
Scanner input = new Scanner(System.in);
int i;
double interest=0, loanPrinciple, time, rate;
NumberFormat nf = NumberFormat.getInstance();
nf.setMaximumFractionDigits(3);
nf.setMinimumFractionDigits(2);
System.out.println("Please enter the amount you wish to take out for a loan: ");
loanPrinciple =input.nextDouble();
System.out.println("Please enter the APR of the loan in % ( ex: 6.8 ) : ");
rate= input.nextDouble();
System.out.println("Please enter the term of the loan (in years): ");
time= input.nextDouble();
rate = rate/100;

for(i=0; i<time; i++){
    interest += loanPrinciple*rate;
    loanPrinciple *= (1+rate);
}
System.out.println("The total amount to repay your loan will be: " +nf.format(loanPrinciple).toString() + " .  "+nf.format(interest).toString()+ " of that amount is just interest. ");

double monthPayment=0;
monthPayment= time*12;
monthPayment= loanPrinciple / monthPayment;

System.out.println("The monthly payment on your loan will be: "+ nf.format(monthPayment).toString());


}// End main
}// End Class