Day 2: Loan Calculator

Exercise

Write a Java program to calculate the monthly payment of a loan given an annual interest rate and length of the loan in years.

Algorithm

  1. Read a tutorial on calculating amortization tables.
  2. Implement the core functionality using a text-based interface for I/O.
  3. Build a GUI to wrap your implementation.

Resource

A Mortgage Loan Calculator

Hint

You do not need to implement everything in the tutorial. Start by concentrating on the monthly payment formula and only then augment with additional functionality.

Return Home