Tuesday
October 21, 2014

Homework Help: Java

Posted by Railly on Monday, November 26, 2007 at 6:47pm.

Can someone please help me out!!!I included what I have so far..

*Purpose:
Say that you owe the credit card company $1000.00. The company charges you 1.5% per month on the unpaid balance.
You have decided to stop using the card and to pay off the debt by making a monthly
payment of N dollars a month. Write a program that asks for the monthy payment,
then writes out the balance and total payments so far for every succeeding month until the balance is zero or less.

Enter the monthly payment:
100
Month: 1 balance: 915.0 total payments: 100.0
Month: 2 balance: 828.725 total payments: 200.0
Month: 3 balance: 741.155875 total payments: 300.0
Month: 4 balance: 652.273213125 total payments: 400.0
Month: 5 balance: 562.057311321875 total payments: 500.0
Month: 6 balance: 470.4881709917031 total payments: 600.0
Month: 7 balance: 377.54549355657866 total payments: 700.0
Month: 8 balance: 283.20867595992735 total payments: 800.0
Month: 9 balance: 187.4568060993263 total payments: 900.0
Month: 10 balance: 90.26865819081618 total payments: 1000.0
Month: 11 balance: -8.377311936321576 total payments: 1100.0

For each month, calculate the interest due on the unpaid balance.
Then calculate the new balance by adding the interest and subtracting the payment.

*/

class Exercise1
{
public static void main (String[] args )
{

EasyReader console = new EasyReader();

final double owed= 1000.0;
final double tax=0.015;
double previousBalance=0;
int months;

System.out.print( "Enter the monthly payment: " );
double payment = console.readDouble();
double balance =(owed-payment)+(tax*payment);
balance= previousBalance;

while (previousBalance<owed)
{
previousBalance =(previousBalance-payment)+(tax*previousBalance);
System.out.println("Balance: "+previousBalance+ "Total Payments: "+balance);

}



}
}

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