Generating Compound Interest With Integers

Sep 15, 2011

I am trying to change this code to use only integers to calculate the compound interest.

// Compound-interest calculations with for.

public class Interest {
public static void main( String args[] ) {
double amount; // amount on deposit at end of each year
double principal = 1000.0; // initial amount before interest
double rate = 0.05; // interest rate

[Code] .....

And here is the output I get :

Why do I get the output after year 2? I assume it has something to do with the remainder.

I also have to format this output with the decimal point, etc.. which I think I will be ok with after I get through this part.

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How To Get A Compound Interest Program To Work

Apr 10, 2014

/code

package com.eclipsedistilled.cis125;
import java.util.Scanner;
public class HowellBank {
public static void main(String[] args) {
//Written by George Torgerson
//Chapter 4 Link to Logic 7
//Program that accepts an account number, the account owner's first
//Declarations
int accountNumber;

[code]....

This is for college homework. Fictional bank. I would like the year to look like Year 1, Year 2, etc.

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I need getting started designing and creating a program that calculates simple and compound interest. Simple interest in this case means that interest is only applied to the original amount. For instance, if a person deposits $1000 at 10% annual interest, then after one year they would have $1100 (the original $1000 plus the $100 interest) and after two years they would have $1200 (the original $1000, plus the $100 earned the first year, plus the $100 earned the second year).

With compound interest, the interest is applied to all money earned. So, starting with $1000 at 10% annual interest, after one year the user would have $1100 (the original amount plus $100 interest) and after two years the user would have $1210 (the $1100 they started with at the beginning of the year plus the $110 interest).

The requirements of this program are:

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Period Beginning Amount Interest Earned Ending Amount
1 10000.00 1000.00 11000.00
2 11000.00 1000.00 12000.00
3 12000.00 1000.00 13000.00
4 13000.00 1000.00 14000.00

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From what I have read compound operators have the lowest order of precedence... But the above piece of code makes the assignment k = 1 + (k = 4) * (k + 2) before evaluating the rest of the statement first.

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[Code] .....

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