Question

ICICI bank pays interest to the customer on fixed deposits which compounds annually according to the given table. Using the formula A = P(1 + R/100)?. Write a program in Java to calculate the amount to be paid taking principal as input.

Answer 1

Answer:

A = p(1+R /100) is the answer

Answer 2

Answer:

public class JavaExample {

public void calculate(int p, int t, double r, int n) {

double amount = p * Math.pow(1 + (r / n), n * t);

double cinterest = amount - p;

System.out.println("Compound Interest after " + t + " years: "+cinterest);

System.out.println("Amount after " + t + " years: "+amount);

}

public static void main(String args[]) {

JavaExample obj = new JavaExample();

obj.calculate(2000, 5, .08, 12);

}

}