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# Java Program to Calculate Compound Interest

This article is created to cover a program in Java that find and prints compound interest based on the data provided by user at run-time of the program.

The formula to find compound interest is:

CI = (1 + r/n)^{(nt)}- p

where **CI** indicates to Compound Interest, **p** indicates to Principal Amount, **r** indicates to the Annual Rate
of Interest, **t** is Time Period for which the money is invested or borrowed, and **n** indicates to the Number of Times
that the interest is compounded per unit **t**.

**Note - **If the interest is compounded monthly, then the value of **n** would be 12. If the interest is compounded
quarterly, then the value of **n** would be 4, and so on. This happens when **t** is in years.

The question is, *write a Java program to find and print the compound interest based on the data such as p, r,
t, and n values. The data must be received by user at run-time of the program.* The program given
below is its answer:

import java.util.Scanner; public class CodesCracker { public static void main(String[] args) { double p, r, t, n, ci; Scanner s = new Scanner(System.in); System.out.print("Enter the Value of p (Principal Amount): "); p = s.nextDouble(); System.out.print("Enter the Value of r (Annual Rate of Interest): "); r = s.nextDouble(); System.out.print("Enter the Value of t (Time Period): "); t = s.nextDouble(); System.out.print("Enter the Value of n (Number of Times, Interest is Compounded): "); n = s.nextDouble(); ci = p * Math.pow(1 + (r/n), (n*t)) - p; System.out.println("\nCompound Interest = " +ci); } }

The snapshot given below shows the sample run of above Java program with user inputs **10000** as principal amount,
**3.5** as rate of interest, **5** as time period, and **12** as number of times that the interest is compounded:

The above program can also be created in this way. This program prints the value of **Amount** too.

import java.util.Scanner; public class CodesCracker { public static void main(String[] args) { Scanner s = new Scanner(System.in); System.out.print("Enter the Value of p: "); float p = s.nextFloat(); System.out.print("Enter the Value of r: "); float r = s.nextFloat(); System.out.print("Enter the Value of t: "); float t = s.nextFloat(); System.out.print("Enter the Value of n: "); float n = s.nextFloat(); float amount = p * (float)Math.pow(1 + (r/n), (n*t)); float ci = amount - p; System.out.println("\nAmount = " +amount); System.out.println("Compound Interest = " +ci); } }

Here is its sample run with user input **10000** as **p**, **0.08** as **r**, **1** as **t**, and **12**
as **n**:

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