https://github.com/juliusmarkwei/mortgage-calculator
Mortgage Calculator for calculating Interest on a loan and estimating the debt to be settled each month.
https://github.com/juliusmarkwei/mortgage-calculator
Last synced: 8 months ago
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Mortgage Calculator for calculating Interest on a loan and estimating the debt to be settled each month.
- Host: GitHub
- URL: https://github.com/juliusmarkwei/mortgage-calculator
- Owner: juliusmarkwei
- Created: 2022-08-28T21:36:48.000Z (almost 4 years ago)
- Default Branch: main
- Last Pushed: 2022-08-29T22:26:43.000Z (almost 4 years ago)
- Last Synced: 2025-01-01T18:34:28.806Z (over 1 year ago)
- Language: Java
- Size: 7.81 KB
- Stars: 1
- Watchers: 1
- Forks: 0
- Open Issues: 0
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Metadata Files:
- Readme: README.md
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README
This is a Mortgage Calculator for calculating Interest on a loan. The program takes inputs (Principal, Annual Interest Rate and Number of Years), performs the necessary mathematical computations using the general model M = P*(r(1+r)^n/((1-r)^n)-1), where M is the Mortgage to be settled every months, P is the Principal, 'r' is the interest Rate and 'n' being the number of months to settle the debt. The results, that is, the true output, is then at the end in the terminal.