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Essay Details:
Essay text:
Use loops
to prevent lists from scrolling off the screen.
*/
import java.text.DecimalFormat;
public class LoansWk5 {
public static void main(String [] args) {
//Declare variables and initializations
double value=200000;
int [] term = {7, 15, 30};
double[] rate={.0535, .055, .0575};
double interestvalue;
double NewBalance;
double monint;
double MortgageBalance;
int month;
int i;
DecimalFormat f = new DecimalFormat("$#,###,###.00");
for (i = 0; i<=2; i++)
{
int payments = 12 * term[i];
{
// Determine monthly payment
double intrate = rate[i] / 12;
double monthly;
// Formula retrieved from http://www...
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