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Oct 8, 2023
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1 change: 1 addition & 0 deletions src/navs/program.js
Original file line number Diff line number Diff line change
Expand Up @@ -19,6 +19,7 @@ export const programsNav = {
pages['java-program-to-check-divisbility'],
pages['find-quotient-and-reminder'],
pages['calculate-power-of-a-number'],
pages['calculate-compound-interest'],
pages['factorial-in-java'],
],
}
80 changes: 80 additions & 0 deletions src/pages/programs/calculate-compound-interest.mdx
Original file line number Diff line number Diff line change
@@ -0,0 +1,80 @@
---
title: Java program To Calculate Compound Interest
shotTitle: Calculate Compound Interest
description: This code takes the principal amount, annual interest rate (as a percentage), number of years, and compounding frequency (how many times per year the interest is compounded) as input from the user.
---

import { List, ListItemGood } from '@/components/List'

The integer is stored in a variable using `System.in`, and is displayed on the screen using `System.out`.

To understand this example, you should have the knowledge of the following Java programming topics:

- [Java Operators](/docs/operators)
- [Java Basic Input and Output](/docs/basic-input-output)

## to calculate the compound Interest

A java program to calculate compound Interest


## Java Code

```java
import java.util.Scanner;

public class CompoundInterestCalculator {
public static void main(String[] args) {
Scanner scanner = new Scanner(System.in);

// Input principal amount
System.out.print("Enter the principal amount: ");
double principal = scanner.nextDouble();

// Input annual interest rate (as a percentage)
System.out.print("Enter the annual interest rate (as a percentage): ");
double annualRate = scanner.nextDouble();

// Input number of years
System.out.print("Enter the number of years: ");
int years = scanner.nextInt();

// Input number of times interest is compounded per year
System.out.print("Enter the number of times interest is compounded per year: ");
int compoundingFrequency = scanner.nextInt();

// Convert annual rate to decimal and calculate compound interest
double rate = annualRate / 100;
double amount = principal * Math.pow(1 + (rate / compoundingFrequency), compoundingFrequency * years);

// Calculate compound interest
double compoundInterest = amount - principal;

// Display the result
System.out.println("The compound interest after " + years + " years is: " + compoundInterest);

// Close the scanner
scanner.close();
}
}
```

#### Output 1

```text
Enter the principal amount: 5000
Enter the annual interest rate (as a percentage): 5
Enter the number of years: 3
Enter the number of times interest is compounded per year: 4
The compound interest after 3 years is: 797.1955807499652
```

#### Output 2

```text
Enter the principal amount: 10000
Enter the annual interest rate (as a percentage): 3.5
Enter the number of years: 5
Enter the number of times interest is compounded per year: 12
The compound interest after 5 years is: 1938.8365362833173
```
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