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 jenl2881 17Oct2011 08:39

Loan Payment Calculator

I need to make a Car Loan Payment calculator where the user enters the price of the car, the current interest rate, the number of months the vehicle will be financed for and clicks Calculate. I am assuming the user enters valid informatino

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;               }                       }   }```

 masterwarner 8Nov2011 02:14

Re: Loan Payment Calculator

So what problem are you exactly facing ?

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