Showing posts with label Loan Interest Solver in Java. Show all posts
Showing posts with label Loan Interest Solver in Java. Show all posts

Sunday, June 30, 2019

Loan Interest Solver in Java


Write a program to compute the loan interest using the following formula.

Formula:

Interest = (Principal * Rate * Time)/100

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Program Listing

package interest_rate;
 import java.util.Scanner;
 import java.text.DecimalFormat;
/**
 * Interest_Rate.java
 * Author : Mr. Jake R. Pomperada,MAED-IT
 * Date   : February 19, 2019   Tuesday
 * http://www.jakerpomperada.com
 * jakerpomperada@jakerpomperada.com 
 * jakerpomperada@gmail.com
 */

public class Interest_Rate {
      private static DecimalFormat df2 = new DecimalFormat(".##");
   public static void main(String[] args) {
        double principal=0.00, rate=0.00, time=0.00;
        Scanner input = new Scanner(System.in);
        System.out.println();
        System.out.print("\tLoan Interest Solver");
        System.out.println("\n");
        System.out.print("\tEnter Principal Amount : PHP ");
        principal = input.nextDouble();
        System.out.print("\tEnter Rate of interest : ");
        rate= input.nextDouble();
        System.out.print("\tEnter Time period      : ");
        time = input.nextFloat();
        double interest_rate = (rate * time * principal) / 100;
        System.out.println();
        System.out.print("\tThe Amount of Interest is : PHP " + df2.format(interest_rate));
        System.out.println("\n");
        System.out.println("\tEnd of Program");
        System.out.println();
   }
    
}