public class CompoundInterest Output The Principle amount is 100000. Here, the integer has been previously defined, and its value is accessed and displayed on the console. The maximum APR for a loan offered through and serviced by OppLoans is 160 and loan sizes range from 500 to 4,000. The Compound Interest is : 15762.500000000015 Example 2 5 According to the Consumer Federation America, a non-profit consumer advocacy group, payday loans range in size from 100 to 1,000, depending on state legal maximums, and carry an average annual percentage rate (APR) of 400. } Output Required packages have been imported ("The Compound Interest is : " + compound_interest) ("Enter a Time period in years : ") Ĭompound_interest = principle * (Math.pow((1 + rate / 100), time)) - principle Scanner my_scanner = new Scanner(System.in) A good personal loan interest rate depends on your credit score: 740 and above: Below 8 (look for loans for excellent credit) 670 to 739: Around 14 (look for loans for good credit) 580 to 669. ("Required packages have been imported") import ĭouble principle, rate, time, compound_interest You can try this example live in our coding ground tool. Here, the input is being entered by the user based on a prompt. For the week of September 1st, top offers on Bankrate are 0.90 lower than the. Step 4 – Perform “principle * (Math.pow((1 + rate / 100), time)) – principle” to calculate theĬompound interest and store it in a simple_interest variable Step 3 – Read values of principle, rate, time, from the user Step 2 – Declare four float values principle, rate, time, compound_interest The desired output would be − The Compound Interest is : 15762.50000000001 Algorithm Step 1 – START Suppose our input is − Enter a Principle number : 100000 Punjab National Bank, SBI, Union Bank of India, HDFC Bank, LIC Housing Finance, PNB Housing Finance and Bajaj Housing Finance also offer housing loans at one of the lowest interest. Rates are higher compared to Simple Interest. For fresh home loan borrowers, SBI offers the lowest interest rates starting at 8.40 p.a., followed by UCO Bank, which offers home loans at 8.45 p.a. Compound Interest is calculated using the following formula − Principle*(1+(rate / 100))^time – PrincipleĬompound Interest − The percentage interest charged on principal and accrued interest. In this article, we will understand how to calculate the Compound interest.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |