Assignment #2 CSI205 Assigned 09/20/11

Due 09/29/11

Assignment:

Create a class that can be used by clients to perform mortgage calculations.

Specifically, your class will be used to calculate mortgage payment, total interest

charge, and future value of a mortgage based on the amount of the loan (Principal),

interest rate, and term.

The Mortgage Payment is computed as:

Payment=(Principal*r/12.0)/(1-temp)

where

r = interest rate/100.0

temp = (1.0/pow(x,y))

x = 1.0+r/12.0

and y = term of mortgage in years * 12.0

pow(x,y) is a method defined in the Math class that raises x

to the y power.

The Future Value of the loan is computed as:

Future value = Payment * term of mortgage in years * 12

The Interest Charge is computed as:

Interest Charge = Future Value - Amount of Loan

Your class should contain the following:

Private Data Fields:

double interestRate

double term

double principal

Public Methods:

//Constructor Method. Accepts values for interest rate, term, and principal and places these

//values into the corresponding private data fields

MortgageCalcs(double interestRate, double term, double principal)

//this method calculates and returns the Monthly Payment.

double calcPayment()

//this method calculates and returns the Future Value.

double futureValue()

//this method calculates and returns the Interest Charge.

double intCharge()

A sample client has been created that will allow you to test your implementation of MortgageCalcs.

To test MortgageCalcs.java:

- copy the client application, named TestMortgage.class, from the class folder on the ITS Unix

system to your own folder. The client is located in /home2/classes/csi205/TestMortgage.class

- Compile your MortgageCalcs.java

- Run TestMortgage and follow the on-screen instructions. TestMortgage will

create and use one of your MortgageCalcs object.

Notes:

-Include Comments in your code and format your program neatly. Remember to

include your name and Student ID# in your comments

-All variables you use for mathematical computations should be of type double

-You should only submit MortgageCalcs.java. (the "M" and "C" are uppercase!)

-The turnin command for assignment #2 is

turnin-csi205 -c csi205 -p prog2 MortgageCalcs.java