Lab 3
comp 125-609, Goldwasser
Tuesday, September 14, 1999
Purpose: To get some experience using numbers and calculations.

We will write a simple mortgage calculator.

The user will enter the following parameters (using appropriately labeled text boxes):

  • Amount of Loan
  • Annual Interst Rate
  • Length of Loan (in months)
    • After entering the values, the user should click on a button labeled "Calculate" which starts your calculations. Your program must use the data given by the user to calculate what the monthly payments would be on a fixed rate loan matching those parameters.

    Fortunately, I have a book at my side which gives the following formula for the monthly payments on a fixed rate loan, given the parameters.

    As a test of your program, if you have a loan with,
  • Amount of Loan: 120000
  • Annual Interst Rate: 0.10
  • Length of Loan (in months): 36
    • The monthly payments will be $3872.06
    This lab is due before leaving class today. When you have completed the program you should do the following:
  • (1) Please call me over to your computer to run your program and verify its correctness. You will not receive credit if you leave before doing this.