Simple Interest Solver in Java

A simple program that I wrote in Java that will ask the user to give the amount loaned, time and interest in the amount and then I will compute the interest rate in the given amount which is being borrowed by the client or customer.

I hope you will find my work useful and beneficial. If you have some questions about programming, about my work please send me an email at jakerpomperada@gmail.comand jakerpomperada@yahoo.com. People here in the Philippines can contact me at  my mobile number 09173084360.

Thank you very much and Happy Programming.

Sample Program Output

Program Listing

// Problem : Write a program in Java that computes for simple interest for the amount // that is  being borrow from a bank or financial institution. 

// Date:  June 28, 2015

// Written By: Mr. Jake R. Pomperada, MAED-IT

// Email Address: jakerpomperada@yahoo.com and jakerpomperada@gmail.com

import java.util.Scanner;

import java.text.DecimalFormat;

class interest {

    public static float compute_interest_rate(float principal_amount, float rate, float time)

    {

        float solve_interest = (principal_amount*rate*time)/100;

        return(solve_interest);

    }

public static void main(String args[]) {

  Scanner scan = new Scanner(System.in);

  DecimalFormat df = new DecimalFormat("###.##");

   char a;

do

    {

  System.out.println();

  System.out.println("===== SIMPLE AMOUNT INTEREST SOLVER =====");

  System.out.println();

  System.out.print("Enter principle amount being borrowed : PHP ");

  float amount = scan.nextFloat();

      

  System.out.print("Enter number of years to be paid      : ");

  float year = scan.nextFloat();

      

  System.out.print("Enter annual interest rate            : ");

  float rate = scan.nextFloat();

      

  float amount_to_be_paid = compute_interest_rate(amount, rate, year);

      

  System.out.println();

  System.out.print("The total amount of interest to be paid is PHP " + df.format(amount_to_be_paid) +"."); 

 

    System.out.println("\n\n");

    System.out.print("Do you Want To Continue (Y/N) :=> ");

    a=scan.next().charAt(0);

   } while(a=='Y'|| a=='y');

     System.out.println("\n");

     System.out.println("\t ===== END OF PROGRAM ======");

     System.out.println("\n");

   }

  

  }  // End of Program