Compound Interest In Java

Chapter: Math Class Last Updated: 04-05-2016 18:30:49 UTC

Program:

            /* ............... START ............... */
                
public class JavaCompoundInterest {

	public static void main(String args[]) {

		double principal = 100000;
		int years = 4;
		double rate = .06;

		System.out.printf("Principle: %.2f \n", principal);
		System.out.println("Years: " + years);
		System.out.println("Interest rate: " + rate);

		System.out.println("Total amount componded over the " + years + " years:");
		for (int x = 1; x <= years; x++) {
			double amount = principal * Math.pow(1 + rate, x);
			System.out.printf("Year " + x + ": %.2f \n", amount);
		}
	}
}

                /* ............... END ............... */
        

Output

Principle: 100000.00 
Years: 4
Interest rate: 0.06
Total amount componded over the 4 years:
Year 1: 106000.00 
Year 2: 112360.00 
Year 3: 119101.60 
Year 4: 126247.70 

Notes:

  • Compound interest can be calculated with the following formula:
  • A = amount
  • P = principal
  • R = rate
  • n = years
  • A=P(1+R)^n

Tags

Compound Interest, Java, Math

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