Hi all, I have another problem that I am not sure how to do. Can you please help solving it?
Here it is:
Design and implement an application that serves as a mortgage calculator. Accept the mortgage amount, the interest rate, and the loan duration (number of years) using three text fields. When the user presses a button, determine and display the total of the monthly payments and the amount of interest that will be paid. Make both Frame version and Applet version. The interest rate accepted in the text field is typically an annual rate. The total of the monthly payments can be calculated as; numberOfMonths * mortgageAmount / ((1 / monthlyInterestRate) - (1 / (monthlyInterestRate * (1 + monthlyInterestRate)numberOfMonths)))
Again, any help is appreciated. Thanks.