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  1. #1
    EpyonCustom is offline Member
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    Default Mortgage Monthly Payment Formula

    Greetings Java Forums,

    I have to create a method that calculates the mortgage monthly payment, using the following formula:

    Loan Payment Formula

    But I don't know how I'm supposed to write this in Java, specifically the power part.

    How would I go about writing this formula in Java? Thanks again.

  2. #2
    sunde887's Avatar
    sunde887 is offline Moderator
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    I didn't follow the link(I don't follow links) but you can use Math.pow, would you mind copy and pasting the formula?

  3. #3
    EpyonCustom is offline Member
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    Here is the formula:


  4. #4
    sunde887's Avatar
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    What have you tried so far?

  5. #5
    dlorde is offline Senior Member
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    It's probably easiest to break it down into stages so you can check each stage is giving the right result, e.g. (pseudocode)
    a = 1 + rate
    b = Math.pow(a, months)
    c = b - 1
    d = rate / c
    e = rate + d
    f = e * principal

    If that's too simple, you can combine steps together, as you see fit.

  6. #6
    EpyonCustom is offline Member
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    Quote Originally Posted by sunde887 View Post
    What have you tried so far?
    I basically typed out the formula without the power:

    double monthlyInterestPayment=(0.0032 + (0.0032 / ((1 + 0.0032) - 1)) + 1800);

    Quote Originally Posted by dlorde View Post
    It's probably easiest to break it down into stages so you can check each stage is giving the right result, e.g. (pseudocode)
    a = 1 + rate
    b = Math.pow(a, months)
    c = b - 1
    d = rate / c
    e = rate + d
    f = e * principal

    If that's too simple, you can combine steps together, as you see fit.
    Thanks. I think I'll do something like that. I'll let you guys know if it works.

    EDIT: Yep, it works. +rep to both of you guys.

    Now I just have to figure out how to do the rest of this assignment!
    Last edited by EpyonCustom; 04-28-2011 at 01:20 AM.

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