I'm having some trouble with a Loan repayment Calculator.
It seems to be working fine, but it give me answers very different to that of online calculators.
Any tips greatly appreciated.
public class Q1
public static void main (String  args)
String interest = JOptionPane.showInputDialog("Please enter an interest rate");
double interestRateFirst = Double.parseDouble(interest);
double interestRate = interestRateFirst / 100;
String loan = JOptionPane.showInputDialog("Please enter a loan amount in Euro");
double loanAmount = Double.parseDouble(loan);
String length = JOptionPane.showInputDialog("Please enter the length of the loan in years");
double lengthOfLoan = Double.parseDouble(length);
double monthlyLoanRepayments = (loanAmount*interestRate)/(1-(1/(Math.pow((1+interestRate),(lengthOfLoan*12)))));
System.out.println("The monthly repayment amount is: " + monthlyLoanRepayments);
--- Update ---
Can a mod tag this as solved?
I just had to change the interest rate to monthly interest.