Simple Mortgage Calculator

This is a simple mortgage calculator written in Java. It calculates mortgage payments based on three inputs: principal, payment term, and annual interest rate.

Usage

To use the mortgage calculator, follow these steps:

1. Run the Main class, which serves as the entry point of the program.
2. Enter the following information when prompted:
   • Principal: The principal amount (loan amount) in the range of $1,000 to $1,000,000.
   • Annual Interest Rate: The annual interest rate in the range of 1% to 30%.
   • Period (Years): The payment term in years, ranging from 1 to 30 years.
3. The program will calculate the mortgage and display the results, including the monthly payment amount and the payment schedule.

Getting Started

Prerequisites

• Java Development Kit (JDK) installed

Running the Program

1. Clone this repository to your local machine.
2. Open the project in your preferred Java development environment.
3. Run the Main class.

Classes

Main

The Main class serves as the entry point for the mortgage calculator program. It prompts the user to enter the principal, annual interest rate, and payment term. It then creates instances of MortgageCalculator and MortgageReport to perform the calculations and display the results.

MortgageCalculator

The MortgageCalculator class handles the mortgage calculations based on the provided inputs. It contains methods to calculate the mortgage balance, mortgage payment, and remaining balances over time.

MortgageReport

The MortgageReport class formats and prints the mortgage details, including the monthly payment amount and the payment schedule.

Example

Here's an example of how the program output may look:

Principal: 100000
Annual Interest Rate: 12
Period (Years): 5

MORTGAGE
________
Monthly Payments: $2,224.45

PAYMENT SCHEDULE
________________
$98,775.55
$97,538.87
$96,289.81
$95,028.26
$93,754.10
$92,467.20
$91,167.42
$89,854.65
$88,528.75
$87,189.60
$85,837.05
$84,470.97
$83,091.24
$81,697.70
$80,290.24
$78,868.69
$77,432.94
$75,982.82
$74,518.20
$73,038.94
$71,544.88
$70,035.89
$68,511.80
$66,972.48
$65,417.76
$63,847.49
$62,261.52
$60,659.69
$59,041.84
$57,407.81
$55,757.45
$54,090.58
$52,407.04
$50,706.66
$48,989.29
$47,254.73
$45,502.84
$43,733.42
$41,946.31
$40,141.33
$38,318.30
$36,477.04
$34,617.36
$32,739.09
$30,842.04
$28,926.01
$26,990.83
$25,036.29
$23,062.21
$21,068.39
$19,054.63
$17,020.73
$14,966.49
$12,891.71
$10,796.19
$8,679.70
$6,542.06
$4,383.03
$2,202.42
$0.00