package com.imsl.test.example.finance;

import com.imsl.finance.*;
import java.text.NumberFormat;

/**
 * <p>
 * Computes the interest due the second year of a loan.</p>
 *
 * The interest due the second year on a $100,000 25 year loan is calculated.
 * The loan is at 8%.
 *
 * @see <a href="FinanceIpmtEx1.java">Code</a>
 * @see <a href="doc-files/FinanceIpmtEx1.out">Output</a>
 */

public class FinanceIpmtEx1 {

    public static void main(String args[]) {
        double rate = .08;
        int per = 2;
        int nper = 25;
        double pv = 100000.00;
        double fv = 0.0;
        int when = Finance.AT_END_OF_PERIOD;

        double ipmt = Finance.ipmt(rate, per, nper, pv, fv, when);
        System.out.println("The interest due the second year on"
                + " the $100,000 loan is "
                + NumberFormat.getCurrencyInstance().format(ipmt));
    }
}