Hi I am in need of some help for modifying my mortgage calculator program for my java class.
I am getting many errors as I dont know how to fix it. Can anyone point me in the right direction?

Thanks in advance.

Code:
//pos407
//9-16-2005

import javax.swing.*;
import java.awt.*;
import java.awt.event.*;
import javax.swing.JOptionPane;  // import class JOptionPane
import java.text.DecimalFormat;  // import class DecimalFormat

public class W2_tran extends JFrame implements ActionListener
{
 static DecimalFormat decmat = new DecimalFormat("$#,##0.00");
FlowLayout flow = new FlowLayout();

	JLabel amount1 = new JLabel("Amount: ");
	JTextField amount = new JTextField(10);
	JLabel rate1 = new JLabel("Rate: ");
	JTextField rate = new JTextField(4);
	JLabel term1 = new JLabel("Term: ");
	JTextField term = new JTextField(4);
	JComboBox mortgageBox = new JComboBox();
	JLabel mortgageList = new JLabel("<html><font face='Tahoma' size='5'>Mortgage</font></html>");
	JButton calcButton = new JButton("Calculate Total");
	JButton exitButton = new JButton("Exit");
	JButton reset = new JButton("Reset");
	JLabel blankSpaces1 = new JLabel("                 ");
	JLabel blankSpaces2 = new JLabel("                 ");
	JLabel result = new JLabel("<html><h1>The total is </h1></html>");
	JLabel sum = new JLabel("");

public W2_tran()
{
	Container con = getContentPane();

		con.setLayout(flow);// places components in a row
		con.add(amount1);
		con.add(amount);
		con.add(rate1);
		con.add(rate);
		con.add(term1);
		con.add(term);
		con.add(calcButton);
		con.add(blankSpaces1);
		con.add(result);
		con.add(sum);
		mortgageBox.addItem("Mortage Inputs Above");
		mortgageBox.addItem(" 7-year Mortgage at 5.35%");
		mortgageBox.addItem("15-year Mortgage at 5.5%");
		mortgageBox.addItem("30-year Mortgage at 5.75%");
		con.add(blankSpaces2);
		con.add(exitButton);
		con.add(reset);
		con.add(mortgageList);
		con.add(mortgageBox);


	amount.setBackground(Color.cyan);
	rate.setBackground(Color.cyan);
	term.setBackground(Color.cyan);
	calcButton.setForeground(Color.red);
	calcButton.setBackground(Color.yellow);

	exitButton.setForeground(Color.black);
	exitButton.setBackground(Color.yellow);

	reset.setForeground(Color.black);
	reset.setBackground(Color.yellow);

	mortgageBox.addActionListener(this);
	mortgageBox.setForeground(Color.white);
	mortgageBox.setBackground(Color.black);

	con.setBackground(Color.white);//sets the background color

calcButton.addActionListener(this);
exitButton.addActionListener(this);
reset.addActionListener(this);

}
public static void main(String[] args)
{
W2_tran cFrame = new W2_tran();
	cFrame.setTitle("Mortgage Calculator");
	cFrame.setDefaultCloseOperation(JFrame.EXIT_ON_CLOSE);
	cFrame.setSize(400,300);
	cFrame.setVisible(true);
  }
	public void actionPerformed(ActionEvent e)
	{
		Object source = e.getSource();
		if(source == calcButton)
		{
			try
			{
				String amount1 = amount.getText();
				String rate1 = term.getText();
				String term1 = rate.getText();
				double a1 = Double.parseDouble(amount1);
				double r1 = Double.parseDouble(rate1);
				if(r1 == 0) getCleanScreen();
				double t1 = Double.parseDouble(term1);
				if(t1 == 0) getCleanScreen();

				// formats numbers to display only two decimal places
				// different decimal formats ensure $ sign & "0.00" print wherever needed
				java.text.DecimalFormat dec = new java.text.DecimalFormat(",##0.00");
				java.text.DecimalFormat doldec = new java.text.DecimalFormat("$,##0.00");

				double mortgagefigure = getPayment(a1, r1, t1, 12);
				double total = getFigure(mortgagefigure);
				String output = "" + doldec.format(total);

				sum.setText("<html><div align='center'><font face='Tahoma' size='5' color='blue'>"+output+"</font></div></html>");
			}
			catch (NumberFormatException error)
			{
				getCleanScreen();
			}
		}
		else if (source == mortgageBox)
		{
			int sizeNum = mortgageBox.getSelectedIndex();
				if (sizeNum == 0)
					try
					{
						getCleanScreen();
					}
					catch (NumberFormatException error)
					{
						getCleanScreen();
					}
				else if (sizeNum == 1)
				{
					try
					{
						String amount1 = amount.getText();
						double a1 = Double.parseDouble(amount1);
						double r1 = 7;
						double t1 = 5.35;

						// formats numbers to display only two decimal places
						// different decimal formats ensure $ sign & "0.00" print wherever needed
						java.text.DecimalFormat dec = new java.text.DecimalFormat(",##0.00");
						java.text.DecimalFormat doldec = new java.text.DecimalFormat("$,##0.00");

						double mortgagefigure = getPayment(a1, r1, t1, 12);
						double total = getFigure(mortgagefigure);
						String output = "" + doldec.format(total);

						rate.setText("");
						term.setText("");
						sum.setText("<html><div align='center'><font face='Tahoma' size='5' color='blue'>"+output+"</font></div></html>");
					}
					catch (NumberFormatException error)
					{
						getCleanScreen();
					}
				}
				else if (sizeNum == 2)
				{
					try
					{
						String amount1 = amount.getText();
						double a1 = Double.parseDouble(amount1);
						double r1 = 15;
						double t1 = 5.5;

						// formats numbers to display only two decimal places
						// different decimal formats ensure $ sign & "0.00" print wherever needed
						java.text.DecimalFormat dec = new java.text.DecimalFormat(",##0.00");
						java.text.DecimalFormat doldec = new java.text.DecimalFormat("$,##0.00");

						double mortgagefigure = getPayment(a1, r1, t1, 12);
						double total = getFigure(mortgagefigure);
						String output = "" + doldec.format(total);

						rate.setText("");
						term.setText("");
						sum.setText("<html><div align='center'><font face='Tahoma' size='5' color='blue'>"+output+"</font></div></html>");
					}
					catch (NumberFormatException error)
					{
						getCleanScreen();
					}
				}
				else
				{
					try
					{
						String amount1 = amount.getText();
						double a1 = Double.parseDouble(amount1);
						double r1 = 30;
						double t1 = 5.75;

						// formats numbers to display only two decimal places
						// different decimal formats ensure $ sign & "0.00" print wherever needed
						java.text.DecimalFormat dec = new java.text.DecimalFormat(",##0.00");
						java.text.DecimalFormat doldec = new java.text.DecimalFormat("$,##0.00");

						double mortgagefigure = getPayment(a1, r1, t1, 12);
						double total = getFigure(mortgagefigure);
						String output = "" + doldec.format(total);

						rate.setText("");
						term.setText("");
						sum.setText("<html><div align='center'><font face='Tahoma' size='5' color='blue'>"+output+"</font></div></html>");
					}
					catch (NumberFormatException error)
					{
						getCleanScreen();
					}
				}
			}
			else if(source == resetButton)
			{
				getCleanScreen();
			}
			else
			{
			// if the user clicks on the Exit button (source is Exit button)
			System.exit(0);
		}
	}// end actionPerformed
}