Mortgage program

Question

I am working on a Mortgage Calclulator program. I got it to compile and run, but I am not getting the right answer. Any suggestions?
/*MortgageCalculator
by Kelly Ankenbrand
June 25, 2004
Individual Assignment Week 2
//class Mortgage {
class MortgageCalculator {
public static void main(String arguments[]) {
//Program Variables
int LOAN = 200000; // *$200,000 Loan
int TERM = 360; //*360 months
double INTERESTRATE = 5.75; //*5.75% interest rate
double Interest = LOAN * INTERESTRATE;
double Payment = (LOAN + Interest) / TERM;
//Output
System.out.println (" Your monthly payment is $"+ Payment); //*prints monthly payment

Answer 1

Okay,
I reworked my code and got what I needed. I greatly appreciate your help. I have listed my code below but now need to modify the mortgage program to display the mortgage payment amount. Then, list the loan balance and interest paid for each payment over the term of the loan. However I'm not to use a graphical user interface. Now I am really lost. Please help!
//Mortgage.java
public class MortgageCalculator1
public static void main (String[] args){
double payment, principal = 200000;
double annualInterest = .0575;
int years = 30;
if (args.length == 3) {
try {
principal = Double.parseDouble(args[0]);
annualInterest = Double.parseDouble(args[1]);
years = Integer.parseInt(args[2]);
catch (Exception e) {
System.out.println("Wrong input " + e.getMessage() );
System.exit(0);
print(principal, annualInterest, years);
} else {
System.out.println("Usage: java Mortgage principal annualInterest years ");
System.out.println("\nFor example: java Mortgage 200000 .0575 30 ");
System.out.println("\nYou will get the output like the following: \n");
     print(principal, annualInterest, years);
System.exit(0);
public static double calculatePayment(double principal, double annRate, int years){
double monthlyInt = annRate / 12;
double monthlyPayment = (principal * monthlyInt)
/ (1 - Math.pow(1/ (1 + monthlyInt), years * 12));
return format(monthlyPayment, 2);
public static double format(double amount, int places) {
double temp = amount;
temp = temp * Math.pow(10, places);
temp = Math.round(temp);
temp = temp/Math.pow(10, places);
return temp;
public static void print(double pr, double annRate, int years){
double mpayment = calculatePayment(pr, annRate, years);
System.out.println("The principal is $" + (int)pr);
System.out.println("The annual interest rate is " + format(annRate * 100, 2) +"%");
System.out.println("The term is " + years + " years");
System.out.println("Your monthly payment is $" + mpayment);