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    Help Mortgage payment formula


    I dont know how to enter this formula properly its the monthly mortgage payment formula:
    this is what have so far, but I dont know how to enter the rest of the formula
    please help
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    Originally Posted by Life_Student
    please help
    help with what? looks like u missed something in ur post...
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    yes this would probably help



    import java.util.Scanner;

    public class Project1 {
    public static void main(String[] args) {
    Scanner input = new Scanner(System.in);

    System.out.println("Enter the price of the house: ");
    double housePrice = input.nextDouble();
    System.out.println("Enter the down payment: ");
    double downPayment = input.nextDouble();
    System.out.println("Enter the annual interest rate: ");
    double annualInterestRate = input.nextDouble();
    System.out.println("Enter the number of payments: ");
    double numberofPayments = input.nextDouble();

    double monthlyPayment= ( ((housePrice - downPayment) * (annualInterestRate/12)) /((1-(1+(annualInterestRate/12)^-numberofPayments))));







    }
    }
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    the formula is

    pmt = ((p-d)*r/12) / (1-(1+(r/12)^-m)
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    it would help if put in code-tags. and again: whats the problem? You try to implement a formula, which formula? Whats the problem with the code u posted? wrong output? (if yes which?) any errormessages?

    edit: ok formula added, whats p,d,r and m in the formula?
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    alright ill try to do this proper:

    Code:
    
    
    import java.util.Scanner;
    
    	public class Project1 {
    	public static void main(String[] args) {
    		Scanner input = new Scanner(System.in);
    		
    		System.out.println("Enter the price of the house: ");
    		double housePrice = input.nextDouble();
    		System.out.println("Enter the down payment: ");
    		double downPayment = input.nextDouble();
    		System.out.println("Enter the annual interest rate: ");
    		double annualInterestRate = input.nextDouble();
    		System.out.println("Enter the number of payments: ");
    		double numberofPayments = input.nextDouble();
    		
    		double monthlyPayment= ( ((housePrice - downPayment) * (annualInterestRate/12)) /((1-(1+(annualInterestRate/12)^-numberofPayments))));
    	
    		
    		
    		System.out.println( (monthlyPayment+ " is the larger of the two numbers.");
    	
    	
    	
    	}	
    	}
    the formula: pmt = ((p-d)*r/12) / (1-(1+(r/12)^-m)


    In which PMT is the monthly payment, P is the listed price of the house, D is the
    down payment, r is the annual interest rate and m is the number of payments.


    i hope this is clearer let me know please.
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    much easier to read, thanks. but still, what is ur problem?

    i guess ur code is not compiling (although u didnt say that).

    and i suggest u look into "Math.pow(a,b)" instead of the " a^b " in the code.
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    my problem is i know about math.pow but how do i implement it in this code specifically with a negative exponent?? the very last part of the formula i cant enter correctly
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    Originally Posted by Life_Student
    my problem is i know about math.pow but how do i implement it in this code specifically with a negative exponent??
    if you have a^b in the formula, ur write Math.pow(a,b) in the code.

    You have (r/12)^-m in the formula, so you write Math.pow(r/12,-m) in the code. should work.
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    ok so i tried this:

    double monthlyPayment= ( ((housePrice - downPayment) * (annualInterestRate/12)) /((1-(1+Math.pow(annualInterestRate/12, -numberofPayments)))));

    but when i run it iget negative numbers also the math seems wrong can someone please check this equation?
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    Are you sure the formula is correct? Where did u get it from?

    Specially the (1-(1+(r/12)^-m)) part seems strange. Cause that results just to -(r/12)^-m...
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    well on my specs for this the formula is written like this:

    PMT = (P -D)* r/12
    ___________
    (1-(1+r/12)^-m)

    where
    PMT is the monthly payment, P is the listed price of the house, D is the
    down payment, r is the annual interest rate and m is the number of payments.

    i thought i wrote it write but never entered as complex formula before so not sure if i entered it correctly
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    Code:
    
    
    import java.util.Scanner;
    
    	public class Project1 {
    	public static void main(String[] args) {
    		Scanner input = new Scanner(System.in);
    		
    		System.out.println("Enter the price of the house: ");
    		double housePrice = input.nextDouble();
    		System.out.println("Enter the down payment: ");
    		double downPayment = input.nextDouble();
    		System.out.println("Enter the annual interest rate: ");
    		double annualInterestRate = input.nextDouble();
    		System.out.println("Enter the number of payments: ");
    		double numberofPayments = input.nextDouble();
    		
    		double monthlyPayment= ( ((housePrice - downPayment) * (annualInterestRate/12)) /((1-(1+Math.pow(annualInterestRate/12, -numberofPayments)))));
    		
    		
    		System.out.println( "The price of the house is: " + housePrice);
    		System.out.println( "Your down payment is :" + downPayment);
    		System.out.println( "Your annual interest rate is :" + annualInterestRate);
    		System.out.println( "Your number of payments are :" + numberofPayments);		
    		System.out.println( "Your monthly payment is :" + monthlyPayment);
    		
    			
    	
    	}	
    	}
    this is my current code the math doesnt compute correctly could someone please check?
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    You got the formula wrong.

    u wrote (1-(1+(r/12)^-m)) but the formula u are stating now says (1- (1+(r/12))^-m). (one parenthisis wrong)
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    ok im confused if i put the parentheses wrong where should it go in this line
    Code:
    double monthlyPayment= ( ((housePrice - downPayment) * (annualInterestRate/12)) /((1-(1+Math.pow(annualInterestRate/12, -numberofPayments)))));
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