<%@ page import="sncomponents.client_specific.*, java.util.*" %> <% String pageType = "Mortgage Calculators"; %> <% String subPageType = "Mortgage 2"; %> <%@ include file="includes/header.inc"%> <% String principal = request.getParameter("prin"); String interestRate = request.getParameter("int"); String term = request.getParameter("term"); if(principal == null) principal = "120000"; if(interestRate == null) interestRate = "8.25"; if(term == null) term = "30"; BiWeekly bi = new BiWeekly(); Vector left = bi.leftColumn(Double.parseDouble(principal),Double.parseDouble(term),(Double.parseDouble(interestRate)/100.0)); double monthly = Double.parseDouble((String)left.elementAt(0)); Vector right = bi.rightColumn(Double.parseDouble(principal), monthly, (Double.parseDouble(interestRate)/100.0)); bi = null; java.text.NumberFormat format = java.text.NumberFormat.getInstance().getCurrencyInstance(); %>

Biweekly Mortgage Calculation
This calculates how much you will pay over the life of the loan when paying bi-weekly.

Principal Loan Balance:	$
Annual Interest Rate:	%
Number of Years

Your Results

Principal Remaining after each year if paying:

Year

Monthly Payment

Bi-Weekly Payment

<% for(int i=1; i <% } %>

<%= i %>

<%= format.format(Double.parseDouble((String)left.elementAt(i))) %>

<% if(i >= right.size()){ %>$0<% } else { %><%= format.format(Double.parseDouble((String)right.elementAt(i-1))) %><% } %>

Final Summary
Mortgage Payment if paying:
Monthly		Bi-Weekly
<%= format.format(monthly) %>		<%= format.format(monthly/2.0) %>
Years Before payoff of loan if using:
Monthly		Bi-Weekly
<%= term %>		<%= right.size() %>

Explanation

Usually a Bi-Weekly payment will result in a shortened loan period and save quite a bit of interest.

The accuracy and use of this calculator is not guaranteed.

<%@ include file="includes/footer.inc"%>