Java program to calculate compound interest code example
Example 1: Java program to find simple interest
import java.util.Scanner;
public class SimpleInterestJavaProgram
{
public static void main(String[] args)
{
float principal, rate, time;
Scanner sc = new Scanner(System.in);
System.out.print("Enter principal amount : ");
principal = sc.nextFloat();
System.out.print("Please enter rate annually : ");
rate = sc.nextFloat();
System.out.print("Please enter time(in years) : ");
time = sc.nextFloat();
float simpleInterest;
simpleInterest = (principal * time * rate) / 100;
System.out.println("The Simple Interest is : " + simpleInterest);
sc.close();
}
}
Example 2: Java program to calculate compound interest
public class CompoundInterestDemo
{
public void calculateCompound(int p, int t, double r, int n)
{
double number = p * Math.pow(1 + (r / n), n * t);
double interest = number - p;
System.out.println("Compound interest after " + t + " years: " + interest);
System.out.println("Money after " + t + " years: " + number);
}
public static void main(String[] args)
{
CompoundInterestDemo obj = new CompoundInterestDemo();
obj.calculateCompound(200000, 6, .06, 12);
}
}