I have a Loan class that in its printPayment method, it prints the amortization table of a loan for a hw assignment. We are also to implement a print first payment method, and a print last payment method. Since my calculation is done in the printPayment method, I didn't know how I could get the value in the first or last iteration of the loop and print that amount out.
One way I can think of is to write a new method that might return that value, but I wasn't sure if there was a better way. Here is my code:
public abstract class Loan
{
public void setClient(Person client)
{
this.client = client;
}
public Person getClient()
{
return client;
}
public void setLoanId()
{
loanId = nextId;
nextId++;
}
public int getLoanId()
{
return loanId;
}
public void setInterestRate(double interestRate)
{
this.interestRate = interestRate;
}
public double getInterestRate()
{
return interestRate;
}
public void setLoanLength(int loanLength)
{
this.loanLength = loanLength;
}
public int getLoanLength()
{
return loanLength;
}
public void setLoanAmount(double loanAmount)
{
this.loanAmount = loanAmount;
}
public double getLoanAmount()
{
return loanAmount;
}
public void printPayments()
{
double monthlyInterest;
double monthlyPrincipalPaid;
double newPrincipal;
int paymentNumber = 1;
double monthlyInterestRate = interestRate / 1200;
double monthlyPayment = loanAmount * (monthlyInterestRate) /
(1 - Math.pow((1 + monthlyInterestRate),( -1 * loanLength)));
System.out.println("Payment Number | Interest | Principal | Loan Balance");
// amortization table
while (loanAmount >= 0) {
monthlyInterest = loanAmount * monthlyInterestRate;
monthlyPrincipalPaid = monthlyPayment - monthlyInterest;
newPrincipal = loanAmount - monthlyPrincipalPaid;
loanAmount = newPrincipal;
System.out.printf("%d, %.2f, %.2f, %.2f", paymentNumber++, monthlyInterest, monthlyPrincipalPaid, loanAmount);
}
}
/*
//method to print first payment
public double getFirstPayment()
{
}
method to print last payment
public double getLastPayment()
{
}*/
private Person client;
private int loanId;
private double interestRate;
private int loanLength;
private double loanAmount;
private static int nextId = 1;
}
Thanks!
