JAVA program to calculate compound interest annually, semi-annually, quarterly, monthly and daily?

Question

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A Java program interest.class that calculates the total interest income on amount Taka 5 Lakhs in a period of 10 years. Show the results for simple interest, compounded interest when the compounding is done annually, semi-annually, quarterly, monthly and daily. Assume that the interest rate is 3.5% per year.

What I have tried:

Java

public class interest {

    public void calculate(int principle, int year, double interestRate, int terms) {
        double sinterest = ((500000 * 3.5 * 10) / 100);
        double amount = principle * Math.pow(1 + (interestRate / terms), terms * year);
        double cinterest = amount - principle;

        System.out.println("Simple interest on Taka. 500000.00 in " + year + " years = Taka "+sinterest);
        System.out.println("Interest on Taka. 500000.00 in " + year + " years compounded annually = Taka. "+cinterest);
        System.out.println("Interest on Taka. 500000.00 in " + year + " years compounded semi-annually = Taka. "+cinterest);
        System.out.println("Interest on Taka. 500000.00 in " + year + " years compounded quarterly = Taka. "+cinterest);
        System.out.println("Interest on Taka. 500000.00 in " + year + " years compounded monthly = Taka. "+cinterest);
        System.out.println("Interest on Taka. 500000.00 in " + year + " years compounded daily = Taka. "+cinterest);


        
    }
    public static void main(String args[]) {
        interest obj = new interest();
        obj.calculate(500000, 10, 0.035, 4); //principle: 500000, year: 10, interest: 0.035, terms: 4
    }
}

current output:

Simple interest on Taka. 500000.00 in 10 years = Taka 175000.0
Interest on Taka. 500000.00 in 10 years compounded annually = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded semi-annually = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded quarterly = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded monthly = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded daily = Taka. 208454.41896556818

All compounded interest (annually, semi-annually, quarterly, monthly and daily) printing same value(quarterly = Taka. 208454.42). It should be different as the expected output.

Expected output:

Simple interest on Taka. 500000.00 in 10 years = Taka. 175000.00
Interest on Taka. 500000.00 in 10 years compounded annually = Taka. 205299.38
Interest on Taka. 500000.00 in 10 years compounded semi-annually = Taka. 207389.10
Interest on Taka. 500000.00 in 10 years compounded quarterly = Taka. 208454.42
Interest on Taka. 500000.00 in 10 years compounded monthly = Taka. 209172.41
Interest on Taka. 500000.00 in 10 years compounded daily = Taka. 209521.87

Do I have to add this line more and update the "term" value?

obj.calculate(500000, 10, 0.035, 4); //principle: 500000, year: 10, interest: 0.035, terms: 4

Posted 3-Sep-20 6:50am

kylin_java

Updated 3-Sep-20 19:21pm

v8

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Comments

Patrice T 3-Sep-20 13:05pm

What is the question, the problem ?

ZurdoDev 3-Sep-20 13:52pm

All you did was repeat yourself. Do you know how to ask a question?

kylin_java 3-Sep-20 14:05pm

program to calculate compound interest annually, semi-annually, quarterly, monthly and daily

Dave Kreskowiak 3-Sep-20 14:57pm

Did you want to explain what the problem you're having, or what?

OriginalGriff 3-Sep-20 15:42pm

What Patrice, ZurdoDev, and Dave are saying is: You have told us what you are required to produce; you have shown us the code you have so far. But what you haven't done is tell use what help you need.
So what is wrong or missing from your app?
Where are you stuck?
What have you tried to "unstick" yourself? What happened when you tried?
What help do you want from us?

Remember, we can't access your HDD; we can't see your screen; we can't read your mind - we only get exactly what you type to work with.

So help us to help you!

[no name] 3-Sep-20 16:14pm

The poster child for cut and paste.

OriginalGriff 3-Sep-20 16:26pm

Him or me? :laugh:

Dave Kreskowiak 3-Sep-20 18:06pm

Yes! :)

[no name] 3-Sep-20 18:24pm

Yours don't count … it's all new to them.

kylin_java 3-Sep-20 23:03pm

Thank you for your suggestion. Appreciate it. I have updated my question.

Richard MacCutchan 4-Sep-20 4:43am

You are printing the same value on each line of output, instead of calculating the different values that are requested.

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Sandeep Mewara · Answer 1 · 2020-09-03T19:21:00

Quote:
Do I have to add this line more and update the "term" value?

Yes. That is your problem.

1. Your calculate method will have single print only.
2. You need to define two calculate methods - lets say calculatesi & calculateci separate for simple and compund

You need to call calculate 5 times with different term values. Query is to calculate interest if term is different and rest all the same. So you need to change the term and call method.

Java

obj.calculatesi(500000, 10, 0.035, ?); // term for si 
obj.calculateci(500000, 10, 0.035, ?); // term for ci semiannual
obj.calculateci(500000, 10, 0.035, ?); // term for ci quarterly
obj.calculateci(500000, 10, 0.035, ?); // term for ci monthly
obj.calculateci(500000, 10, 0.035, ?); // term for ci daily

One more thing, Simple Interest and Compound Interest for a year would turn out same and thus if you plan to use one method only, you can but change the print for that one case.

It's a clear assignment. Please go ahead and try it now. With above details, if you are still not clear then I would suggest to start reading and learning from some book or tutorial first and grasp the concepts.

You can start from here: Java Tutorial - basics[^]

Patrice T · Answer 2 · 2020-09-03T11:21:00

Solution 1

Quote:
Process finished with exit code 0

This means that the code ended normally.

Quote:
Simple interest on Taka. 500000.00 in 10 years=TK 175000.0
Compound Interest after 10 years: 208454.41896556818
Amount after 10 years: 708454.4189655682

The missing part of output is simply because you code do not try to output it.
main() request only one output, not 5.
What about adding the 4 other requests ?

[Update]

Quote:
Thank you. I added 4 other lines. which all are printing the same value.

you added code to print all lines, but you keep 1 calculation, so all print the same value.
You need 1 calculation per line.

Posted 3-Sep-20 11:21am

Patrice T

Updated 4-Sep-20 6:12am

v5

Comments

kylin_java 3-Sep-20 22:57pm

Thank you. I added 4 other lines. which all are printing the same value. It shoud be different for each.

current output:
Simple interest on Taka. 500000.00 in 10 years = Taka 175000.0
Interest on Taka. 500000.00 in 10 years compounded annually = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded semi-annually = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded quarterly = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded monthly = Taka. 208454.41896556818
Interest on Taka. 500000.00 in 10 years compounded daily = Taka. 208454.41896556818

JAVA program to calculate compound interest annually, semi-annually, quarterly, monthly and daily?

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