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Java

Compound Interest in Java

A Java program that I wrote to ask the user to give the principal amount, rate, and years to be paid by the user.

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Sample Program Output
/**
 * @author Jake Rodriguez Pomperada, MAED-IT, MIT
 * jakerpomperada@gmail.com
 * www.jakerpomperada.com
 * Bacolod City, Negros Occidental
 * October 20, 2020   Monday
 */


import java.util.Scanner; 
import java.text.DecimalFormat;

public class Compound_Interest {
	
	 private static DecimalFormat df2 = new DecimalFormat("#.###");

	public static void main(String[] args) {
		// TODO Auto-generated method stub

  		  Scanner input = new Scanner(System.in);
				 	      
	      System.out.println("\n");
		  System.out.print("\t\tCompound Interest m in Java");
 	      System.out.println("\n");
	      
	      System.out.print("\tEnter Principal Amount   :  ");
	      double principal_amt = input.nextDouble();
    
	      System.out.print("\tEnter Interest Rate      :  ");
	      double rate = input.nextDouble();
    
	      System.out.print("\tEnter Number of Years    :  ");
	      double time = input.nextDouble();
    
	        // Calculate compound interest rate here 
	      
	      double CI = principal_amt * 
	                 (Math.pow((1 + rate / 100), time));
	        
	     System.out.print("\n");
	     System.out.println("\tThe Compound Interest is $  "+ df2.format(CI)); 
	     System.out.print("\n\n");
		 System.out.println("\tEnd of Program");
		 System.out.println("\n\n");
		
	}

}

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