Compile error

Bare with me please, this java stuff is really not my strong point. The code
will not compile. It was a working gui thanks to the help of a group member
here. Now I am trying to make it an Applet but it will not compile, help!

import java.util.*;
import javax.swing.*;
import java.awt.*;
import java.awt.event.*;
import java.text.DecimalFormat;

//public class cbweek2Applet {
public class cbweek2Applet extends JApplet {

 double a, t, i, payments;
 JLabel amountLbl, termLbl, IntrateLbl, paymentsLbl;
 JTextField amountTf, termTf, intrateTf, paymentsTf;
 JButton calcBtn;
// JFrame formPanel;
 Font font;
    DecimalFormat formatter = new DecimalFormat("0.00");

  // public cbweek2Applet() {
 public void init () {
  System.out.println("Starting Mortgage Calculator.");

  font = new Font("Arial",Font.BOLD,24);

  amountLbl = new JLabel("Loan Amount");
  termLbl = new JLabel("Terms");
  IntrateLbl = new JLabel("Interest Rate");
  paymentsLbl = new JLabel("Monthly amount");

  amountTf = new JTextField();
  termTf = new JTextField();
  intrateTf = new JTextField();
  paymentsTf = new JTextField();

  calcBtn = new JButton("Calculate");

  amountLbl.setFont(font);
  termLbl.setFont(font);
  IntrateLbl.setFont(font);
  paymentsLbl.setFont(font);
  amountTf.setFont(font);
  termTf.setFont(font);
  intrateTf.setFont(font);
  paymentsTf.setFont(font);
  calcBtn.setFont(font);

  formPanel = new JFrame("Mortgage Calculator");
  formPanel.setLayout(new GridLayout(6,6));
  formPanel.add(amountLbl);
  formPanel.add(amountTf);
  formPanel.add(termLbl);
  formPanel.add(termTf);
  formPanel.add(IntrateLbl);
  formPanel.add(intrateTf);
  formPanel.add(paymentsLbl);
  formPanel.add(paymentsTf);
  formPanel.add(calcBtn);

  formPanel.setDefaultCloseOperation(JFrame.EXIT_ON_CLOSE);

  calcBtn.addActionListener(new ActionListener() {
   public void actionPerformed(ActionEvent e) {
    calculate();
   }
  });

  formPanel.setLocation(300, 200);

  formPanel.pack();
  formPanel.setVisible(true);

 }

// public static void main(String[] args) {
 // new cbweek2Applet();
 }

 private void calculate() {

  double a = Double.parseDouble(amountTf.getText()); // mortgage amount
  double t = Double.parseDouble(termTf.getText()); // mortgage term
  double i = Double.parseDouble(intrateTf.getText()); // interest rate
  double monthlyInt = (i/100)/ 12;
        double payments = (a * monthlyInt)
                    / (1 - Math.pow(1/ (1 + monthlyInt), t * 12)); //
calculations
                    }
     { String result = formatter.format(payments);
        paymentsTf.setText("" + result);

 }
}

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