Fha Loan Calculator

I have everything working correctly except for my totalMonthlyPaymentField output. I am pasting only partial code (about 500 lines in total for the entire project), but pay particular attention to the method:
private void monthlyPaymentButtonActionPerformed
This is where I believe my issue is. I am thinking I need to add a num4, but am struggling as to where; for everywhere I have added it thus far has not worked.
Any suggestions or helping comments are greatly appreciated and I thank you in advance! Remember, 10 pts!

p.s. if this is not good enough, and if you need more code, send me an email and I will send you the entire project. Thanks!

package my.CarLoan;
public class CarLoanUI extends javax.swing.JFrame {

/** Creates new form CarLoanUI */
public CarLoanUI() {
initComponents();
}
//Declaration of variables
float num1, num2, num3, num4;

private void toBeFinancedButtonActionPerformed(java.awt.event.ActionEvent evt) {

num1 = Float.parseFloat(CarPriceField.getText());
num2 = Float.parseFloat(DownPymtField.getText());
num3 = num1 – num2;
totalFinancedField.setText(String.format("$%,.2f",num3));
}

private void totalAfterFinancingButtonActionPerformed(java.awt.event.ActionEvent evt) {
//need to make a num4 here
totalFinancedField.getText() ;//&& buttonGroup1
if (RatingPoorButton.isSelected())
totalAfterFinancedField.setText(String.format("$%,.2f",num3 * .12 + num3 ));
else
if (RatingAverageButton.isSelected())
totalAfterFinancedField.setText(String.format("$%,.2f",num3 * .10 + num3 ));
else
if (RatingGreatButton.isSelected())
totalAfterFinancedField.setText(String.format("$%,.2f",num3 * .05 + num3 ));

}

private void monthlyPaymentButtonActionPerformed(java.awt.event.ActionEvent evt) {
totalAfterFinancedField.getText();
if (Button12Months.isSelected())
totalMonthlyPaymentField.setText(String.format("$%,.2f",num4 / 12 ));
else
if (Button24Months.isSelected())
totalMonthlyPaymentField.setText(String.format("$%,.2f",num4 / 24 ));
else
if (Button36Months.isSelected())
totalMonthlyPaymentField.setText(String.format("$%,.2f",num4 / 36 ));
}
I will be posting for the correct answer in an hour or so. Thanks a million for both of you for taking the time to get to a solution! The best part about this is..I was able to get the correct syntax just before I received your answers . Weeeeeee!!

Thanks again!

I can work on this with you VIA email.
My email is: irishtek@yahoo.com

Can you please send me in the email the monthlyPaymentButtonActionPerformed method and the issue you are having with the output.

The question posted has some elements left out with …. that make it difficult to know what I am looking at.

Okay I think I have found your problem
In these lines of code:
if (Button12Months.isSelected()) totalMonthlyPaymentField.setText(String.format("$%,.2f",num4 / 12 ));
elseif (Button24Months.isSelected()) totalMonthlyPaymentField.setText(String.format("$%,.2f",num4 / 24 ));
elseif (Button36Months.isSelected()) totalMonthlyPaymentField.setText(String.format("$%,.2f",num4 / 36 ));

num4 has no value and will default to 0this line:
num4 = Float.parseFloat(totalAfterFinancedField.getText());

should be uncommented and moved above your if statements so that num4 is properly assigned before it is used.

Let me know if this helps or if you need more assistance on this problem.

I have the following text boxes on my C# windows application:

amountOfLoan
APR
durationOfLoanInYears

and a label called monthlyPayment.

When you click the calculate button, the monthly payment should be displayed in the monthlyPayment label.

Can someone help me with the code that needs to go behind the Calculate button?

IN CASE IT HELPS, THE FOLLOWING FORMULA IS USED TO COMPUTE THE MONTHLY PAYMENT:

payment = (Principle x Rate) / (1 – (1+Rate)) ^ -numberOfMonths

"Payment is equal to principle times rate divided by 1 minus (1 plus rate) to the negative numberOfMonths power"

—-

I just don’t know how to express this in C#….

Hopefully this does it:

private void button1_Click(object sender, System.EventArgs e)
{
double principal = System.Convert.ToDouble(amountOfLoan.Text);
double pctrate = System.Convert.ToDouble(APR.Text);
int monthcount = System.Convert.ToInt32(durationOfLoanInYears.Text);
double payment = (principal * pctrate) /
Math.Pow(1 – (1 + pctrate), -monthcount);
monthlyPayment.Text = payment.ToString();
}

The Math.Pow object/method provides the exponent calculation

Im having to do this for my finance project, and so Im unsure of how to do this. I dont want to use one of those student loan calculators on the web because Im required to write it out by hand. I will owe $37500 at graduation at an interest rate of 6.8% and the time period is 15 years.

It also says if i make an extra $80 per month, how much does that reduce the time?

Thanks!

Useful information at http://www.freearticlesdb.com/finance/personal-loans-you-can-get.html

I’m looking to find a amortization calculator that will allow me to add a certain fixed payment amount starting somewhere in the middle of the loan. The results would tell me my new loan payoff date. For example a $15,000 loan at 5%apr for 5 years. The monthly payment is $283.07. But what if I was able to start adding $200 more per month starting at month 20. When would the loan then be satisfied as it wouldn’t take the full 60 months. It’s not as simple subtracting $200 more every month from the balance. Thanks you!!!

bankrate.com will allow these extra payments in the future.

If that doesn’t suit your needs then use a standard calculator. Go to month 20 in the amortization schedule and recalculate based on the 483 per month payment towards the remaining principle balance. This will save you money in interest but not as much as if you were to pay it in the first half of the loan.

provide an abstract of the amortization table from which the user can see the opening,monthly payment,amount of payment applied to principle and interest and closing balance…where principle=((d i a^n)/a^n -1)/12 where a=1 + i/12

1. Pseudocode is not-any-specific-language-related.
2. Having several formulas, you already have what you call "pseudocode".
3. Homework?

help!!!!!!!!!!!!!!!!!!!!!!

Check out;

http://fincalc.com/

It has all kinds of different financial calculators.

try this

Yes Defently. www.Java.com – Download!

A balloon loan can be an option for many borrowers.

A balloon loan is usually rather short, with a term of three to five years, but the payment is based on a term of up to 15 years or interest only. Allows for a lower monthly payment
(smaller portion of principle than paying off entire loan during the term)

There is, however, a risk to consider. At the end of your loan term, you will need to pay off your outstanding balance. This usually means you must refinance your loan or convert the balloon loan to a traditional loan at the current interest rates.

Ex: A car’s price 10,000; 5%APR within 36, 48 and 60 months. We pay monthly: $300*36 = 10,800; $230*48 = 11,040; $189*60= 11,340
We pay 800, 1040, or 1340 or the interest . How does the borrower calculate monthly payment for us base on the APR and the time length ?

The formula for this is actually about half a page and is really a little extreme to do on a regular calculator. Look at a financial calculator.