Specifications:
Code:
· Code a private method named calculateTotalInterest that calculates the total interest paid on the car and returns it as a decimal value. Monthly interest is calculated as (Price * Interest Rate) / 12. This method should accept the following arguments:
Argument
Description
price of car As Decimal
The value entered for the Price of Car
interest rate As Decimal
The value entered for the Interest Rate
number of months As Integer
The value entered for the Number of Months
monthly payment As Decimal
The value calculated for Monthly Payments:
Price x (Interest Rate / 12)
(1 – ( 1 + Interest Rate / 12 ) –Number of Months) · The results for Monthly Payment, Total Interest Paid, and Total Paid should be formatted as currency and displayed in the appropriate controls on the form
When I try to run it (I am using Visual Studios) it hangs up at the payment calculation. Any help is GREATLY appreciated.
This is what I have so far:
using System;
using System.Collections.Generic;
using System.ComponentModel;
using System.Data;
using System.Drawing;
using System.Linq;
using System.Text;
using System.Windows.Forms;
namespace _549_LargeJ_Exam01
{
public partial class Form1 : Form
{
public Form1()
{
InitializeComponent();
}
private void btnExit_Click(object sender, EventArgs e)
{
this.Close();
}
private void btnCalculate_Click(object sender, EventArgs e)
{
// declare variable
double months = Convert.ToDouble(txtMonths.Text);
double intrate = Convert.ToDouble(txtIntRate.Text);
double price = Convert.ToDouble(txtPrice.Text);
double payment = Convert.ToDouble(txtPayment.Text);
double intpaid = Convert.ToDouble(txtIntPaid.Text);
double totalpaid = Convert.ToDouble(txtTotalPaid.Text);
// conversion of text box values
// Calculations
payment = (price * (intrate/12))/(1 - (Math.Pow((1+intrate/12), months)));
totalpaid = intpaid+(months*payment);
intpaid = this.CalculateTotalInterest(price, intrate);
// display output
txtPayment.Text = payment.ToString("c");
txtIntPaid.Text = intpaid.ToString("c");
txtTotalPaid.Text = totalpaid.ToString("c");
}
private double CalculateTotalInterest(double p, double i)
{
return (p * i)/12;
}
}
}