I have been working on a program that is a Java loan payment calculator for my comp sci class. The programs requriements are:
- ask user for loan amount, annual interest rate, and number of months
- call a method to calculate and return the monthly interest rate
- call a method to calculate and return the monthly payments
- call a method to print a loan statement showing the amount borrowed, annual interest rate, the number of months and the monthly payment.
This is my first time working with multiple methods. I have developed the code so far as shown below. The netbeans editor is not giving me any errors, however, it does not print the statements from my last method. My questions are:
- are my methods set up correctly and passing parameters correctly
- why won't the statements print at the end
- am i capturing my other methods correctly? Do i need to enter variables in the main method and then call them in the final method.
- is any of my code redundant?
I am not really sure how to proceed from here.
public class CarLoan {
/**
* @param args the command line arguments
*/
public static void main(String[] args) {
// declare variables for main method
double loanAmount;//double value loan amount
double annualInterestRate;//double value interest rate
int numberOfMonths;//int value for number of months
double monthlyPayment;
Scanner keyboard = new Scanner(System.in);
System.out.println("Please enter the amount of your loan.");
loanAmount = keyboard.nextDouble();
System.out.println("Please enter the annual interest rate as a decimal. Ex. 7.5% = .075");
annualInterestRate = keyboard.nextDouble();
System.out.println("Please enter the number of months you have to pay back your loan.");
numberOfMonths = keyboard.nextInt();
}
*************************************************
public static double calcMonthlyInterestRate(double annualInterestRate){
double monthlyInterestRate;
monthlyInterestRate = (annualInterestRate/12);
return monthlyInterestRate;
}//end method CalcMonthlyInterestRate
**************************************************************************************
public static double calcMonthlyPayment(double monthlyInterestRate, double loanAmount, int numberOfMonths ){
double monthlyPayment;
double calcMonthlyPayment;
calcMonthlyPayment = (monthlyInterestRate*loanAmount)/(1-(1+monthlyInterestRate)-numberOfMonths);
return monthlyPayment = calcMonthlyPayment;
}//end method CalcMonthlyPayment
****************************************************************************************
public static void loanStatment (double loanAmount, double annualInterestRate, intnumberOfMonths, double monthlyPayment){
System.out.println("Your loan amount is " +loanAmount);
System.out.println(annualInterestRate);
System.out.println(numberOfMonths);
System.out.println(monthlyPayment);
}
}//end main method
}//end main method