MORTGAGE CALCULATOR FOR JAVA PROGRAMMERS BEGINNERS.

Published: 23 April 2021
on channel: Coding Shoding

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QUESTION : WRITE A PROGRAM IN JAVA FOR MORTGAGE CALCULATOR WHERE USER ENTERS ANNUAL INTEREST RATE, PERIOD IN YEARS,PRINCIPAL AMOUNT.

FORMULA : MORTGAGE = P * [(r*(1+r)^N )/((1+r)^N -1)]
where,P is principal amount
r is monthly interest rate
N is number of payments

Mortgage calculators are automated tools that enable users to determine the financial implications of changes in one or more variables in a mortgage financing arrangement.
Mortgage calculators are used by consumers to determine monthly repayments, and by mortgage providers to determine the financial suitability of a home loan applicant.

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