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how to calculate compound interest java. Future Compound Interest Principal Amount 1 Rate of Interest Number of years The above formula is to calculate Future Compound Interest because it contains both the Principal Amount and Compound Interest. Im making a method that are supposed to calculate the interest rate of an amount over a certain period of years these values are already defined in the parameters.
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To calculate compound interest we have to multiply principle amount with the power of 1 Rate 100 with time as an exponent. N is the number of times that interest is compounded per unit t for example if interest is compounded monthly and t is in years then the value of n would be 12. Pr t rate100.
Give all the Text Box a place holder value when no text is being enter by the user Principal Interest Rate yearnumber of time paid Now lets code our calculate button.
Pr Mathpow10rate1000t - pr. Double rate inputnextDouble. The formula for compound interest principal 1 rate100 power time is initialized to a value and the output is calculated. Here P is the principal amount.
