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Need a fix to my code in Visual Basic 2010!

This answer was rated:

Below is what the interface is displaying.  


This is what is supposed to do: (From Book)


you create an application that displays a monthly payment on a loan of $3000 for 1 year at 7% interest. The application also should display the amount applied to the loans principal each month, and the amount that represents interest. The application will use the Financial.Pmt method, which you learned about in the chapter, to


calculate the monthly payment. It also will use the Financial.PPmt method to calculate the portion of the payment applied to the principal each month. The methods syntax is Financial.PPmt(Rate, Per, NPer, PV), where Rate is the interest rate, NPer is the number


of payment periods, and PV is the present value of the loan. The Per argument is the payment period in which you are interested and must be from 1 through NPer.


a. List the output and input items, as well as any processing items, and then create an appropriate algorithm using pseudocode.


b. Create a Visual Basic Windows application. Use the following names for the solution and project, respectively: Principal and Interest Solution, and Principal and Interest


Project. Save the application in the ClearlyVB2010\Chap14 folder. Change the name of the form file on your disk to frmMain.vb. If necessary, change the forms name to


frmMain.


c. Create the interface shown in Figure 14-16. Set the text boxs Multiline and ReadOnly


properties to True.


d. Code the application using a ForNext statement to keep track of the


Financial.PPmt methods Per argument. The Per values will be from 1 through 12.


e. Save the solution and then start and test the application. (Hint: The monthly payment


should be $259.58. In the first month, 242.08 is applied to the principal, and 17.50 is


interest.) Close the Code Editor window and then close the solution.


 


 


This is my code:


Public Class Form1


 


    Private Sub btnDisplayPrincipal_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles btnDisplayPrincipal.Click


        Dim MonthlyPayments As Double


        Dim bloanTotal As Double = 3000


        Dim rate As Double = 0.007


        Dim interest As Double


        Dim toPrincipal As Double


        Dim toInterest As Double


        Dim counter As Integer


 


        For counter = 1 To 12


            'Calculate the monthly payments


            MonthlyPayments =


                Math.Abs(Financial.Pmt(0.07 / 12, 12, 3000))


            TextBox1.Text = MonthlyPayments.ToString("C2")


 


            counter = counter + 1    'add one to the counter


            interest = bloanTotal + rate   'calculate interest rate from payment that will only count as interest


            toInterest = MonthlyPayments - interest ' amount of monthly payment going towards interest


            toPrincipal = MonthlyPayments - toInterest ' amount of monthly payment going towards principal


            bloanTotal = bloanTotal - toPrincipal ' new balance after deducting principal from beginning balance


 


 


            lblMonthlyPayment.Text &= toPrincipal.ToString & "   " & toInterest.ToString & ControlChars.NewLine


        Next


 


    End Sub


 


    Private Sub btnExit_Click(ByVal sender As Object, ByVal e As System.EventArgs) Handles btnExit.Click


        Me.Close()


    End Sub


End Class


 


Hi,
Welcome to JustAnswer.
My name is XXXXX XXXXX I will help you.

If you have any file(s), Zip all files, upload the zipped file to http://wikisend.com and post download link here.
What is the deadline?
Customer: replied 3 years ago.

I couldn't use wikisend, didn't work with me. I used filemail instead. Here's the link:


https://www.filemail.com/dl.aspx?id=YROIKKLSGVOHNTT


 


This is also for monday may 13. Thanks!

I will review and let you know ASAP.
What is the deadline for this?
Customer: replied 3 years ago.
Tomorrow
ok, I will provide you answer ASAP.
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