/*
 * @author Douglas A. Lyon
 * @version  Nov 1, 2002.7:03:49 AM
 */
package examples;


public class LoanPayment {

    public static void main(String args[]) {
        double apr = 0.06;
        double principle = 15000;
        double numberOfMonths = 48;
        double monthlyInterestRate = apr / 12;
        double monthlyPayment =
                principle * (monthlyInterestRate
                / (1 - Math.pow(1 + monthlyInterestRate, -numberOfMonths)));
        double Q = 1;

        for (int x = 1; Q > 0; x++) {
            double H = principle * monthlyInterestRate;
            double C = monthlyPayment - H;
            Q = principle - C;
            principle = Q;
        }

        System.out.println(
                "The amount of your monthly payment is: " + monthlyPayment);

    }
}