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Mortagage Calculator

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/**
*
* @author kids
/*
Modify the mortgage program to display the mortgage payment amount.
Then, list the loan balance and interest paid for each payment over
the term of the loan. The list would scroll off the screen, but use loops to display
a partial list, hesitate, and then display more of the list. Do not use a graphical
user interface. Insert comments in the program to document the program.
*/

import java.util.Date;
import java.text.DecimalFormat;

public class mortgagecalculator
{
public static void main(String[] args)
{
Date currentDate = new Date();

//Date constructor

DecimalFormat decimalPlaces=new DecimalFormat("0.00");

//declaring variables

final double PRINCIPAL = 200000;
final double INTEREST = .0575;
final double TERM = 12*30;

//declaring variables

final double MONTHLY = (PRINCIPAL*(INTEREST/12))/(1-Math.pow (1+INTEREST/12,-TERM));

//displaying variables

System.out.println("\t\t" + currentDate);
System.out.println("\t\tPrinciple or Loan Amount: " + PRINCIPAL);
System.out.println("\t\tInterest Rate: " + INTEREST);
System.out.println("\t\tThe Term of Loan (in months): " + TERM);
System.out.println("\t\tThe Monthly Payment is: " + MONTHLY);
System.out.println(decimalPlaces.format(MONTHLY));

double balance = PRINCIPAL;

// calculate monthly interest and principal
double monthlyInterest = (balance * (INTEREST/12));
double monthlyPrincipal = (MONTHLY - monthlyInterest);

// format column headers for results to be displayed

System.out.println("\n\nPayment\tPrincipal\t\tInterest\t\tBalance");...