Question 73

Question 73:

Pseudocode:

1. Create 3 scanners that prompt user for a double annual interest rate, amount of years mortgage will be held, and the number representing the mortgage amount borrowed from the bank
2. Copy the formulas from the Java Illuminated eBook and plug in the user input from the scanners for the formula and calculate the monthly payment; also calculate the other prompts needed (i.e. over pay, total pay, over pay percent, etc.)
3. Output all of the following calculations according to format (i.e. decimal notation, percent notation, etc.)

Syntax:

import java.util.*;
import java.text.*;
public class math
{
    public static void main(String[] args)
    {
        start();
        math(scanneraIR(), scannernOY(), scannerM());
    }
    public static void start()
    {
        System.out.println("Welcome to Shaurya's, Michelle's, Max's, and Owen's Mortgage Calculator for noobs. Type in your name and press enter...");
        Scanner corn = new Scanner(System.in);
        String cornhub = corn.next();
        System.out.println("Hi, " + cornhub + "!");
    }
    public static void math(double aIR, double nOY, double M) //calculations for the problem
    {
        aIR /= 12;
        double mIR = aIR;
        aIR *= 12;
        double monthPay = (mIR*M)/(1-(1/((Math.pow((1+mIR),(12*nOY))))));
        double totalPay = 12*nOY*monthPay;
        double overPay = (totalPay-M);
        double overPayp = 100-((M/totalPay)*100);
        printer(mIR, aIR, monthPay, totalPay, overPay, overPayp);
    }
    public static double scanneraIR() //scanner for interest rate
    {
       Scanner aIR = new Scanner(System.in);
       System.out.print("Type in your monthly interest rate: ");
       double x = aIR.nextDouble();
       x /= 100;
       return x;
    }
    public static double scannernOY() //scanner for number of years
    {
       Scanner nOY = new Scanner(System.in);
       System.out.print("Type in your number of years that the mortgage will be held: ");
       double y = nOY.nextInt();
       return y;
    }
    public static double scannerM() //scanner for the mortgage
    {
       Scanner nMA = new Scanner(System.in);
       System.out.print("Type in your number representing the mortgage amount borrowed from the bank: ");
       double z = nMA.nextDouble();
       return z;
    }
    public static void printer(double mIR, double aIR, double monthPay, double totalPay, double overPay, double overPayp) //output
    {
        System.out.printf("The total payment is: $%.2f", totalPay); // print with two decimal places
        System.out.println();
        System.out.printf("The amount of money paid in interest is: $%.2f", overPay); // print with unlimited decimal
        System.out.println();
        System.out.printf("The over payment percentage is: %.2f", overPayp); // print overpayment
        System.out.print("%");
        System.out.println();
        System.out.printf("The monthly payment is: $%.2f", monthPay);
        System.out.println();
        mIR *= 100;
        aIR *= 100;
        System.out.printf("The monthly interest rate is: %.2f", mIR);
        System.out.print("%");
        System.out.println();
        System.out.printf("The annual interest rate is: %.2f", aIR);
        System.out.print("%");
        System.out.println();
    }
}