The compound interest formula is A = P(1 + (r/n))^(nt).I have written a code in php and the output is 788.55 whereas my output in my Java program is 557.65. I am not sure why the values are different. Here is my java and my php code:
/*
* Click nbfs://nbhost/SystemFileSystem/Templates/Licenses/license-default.txt to change this license
*/
package com.mycompany.compoundinterest;
/**
*
* @author Joelm
*/
import java.lang.Math;
import java.util.Scanner;
public class CompoundInterest {
public static void main(String[] args) {
double principal;
int timePeriod;
double rate;
int numberofTimes;
double compoundInterest;
Scanner key = new Scanner(System.in);
System.out.print("Enter the principal amount: ");
principal = key.nextDouble();
System.out.print("Enter the interest rate: ");
rate = key.nextDouble();
System.out.print("Enter the number of times the interest is applied per time period: ");
numberofTimes = key.nextInt();
System.out.print("Enter the number of time periods elapsed: ");
timePeriod = key.nextInt();
compoundInterest = principal * (Math.pow(1 + (rate/numberofTimes), (numberofTimes * timePeriod)));
System.out.printf(" %.2f", compoundInterest);
}
}
<!DOCTYPE html>
<html>
<head>
<title>Compound Interest Calculator</title>
</head>
<body>
<h2>Compound Interest Calculator</h2>
<form method="post" action="">
<label for="principal">Principal Amount (P):</label>
<input type="decimal" name="principal" required><br><br>
<label for="rate">Annual Interest Rate (r):</label>
<input type="decimal" name="rate" required><br><br>
<label for="time">Time Period (t in years):</label>
<input type="text" name="time" required><br><br>
<label for="compounds">Number of Times Compounded Annually
:</label>
<input type="number" name="compounds" required><br><br>
<input type="submit" name="calculate" value="Calculate">
</form>
<?php
if (isset($_POST['calculate'])) {
$principal = ($_POST['principal']);
$rate = ($_POST['rate']); // Convert percentage to decimal
$time = ($_POST['time']);
$compounds = ($_POST['compounds']);
$amount = $principal * (pow(1 + ($rate / $compounds), ($compounds * $time)));
echo "<h2>Result:</h2>";
echo "Principal Amount: $principal<br>";
echo "Interest Rate: $rate<br>";
echo "Compounds: $compounds<br>";
echo "Time Period: $time years<br>";
echo "Compound Interest: $amount";
}
?>
</body>
</html>
/*
* Click nbfs://nbhost/SystemFileSystem/Templates/Licenses/license-default.txt to change this license
*/
package com.mycompany.compoundinterest;
/**
*
* @author Joelm
*/
import java.lang.Math;
import java.util.Scanner;
public class CompoundInterest {
public static void main(String[] args) {
double principal;
int timePeriod;
double rate;
int numberofTimes;
double compoundInterest;
Scanner key = new Scanner(System.in);
System.out.print("Enter the principal amount: ");
principal = key.nextDouble();
System.out.print("Enter the interest rate: ");
rate = key.nextDouble();
System.out.print("Enter the number of times the interest is applied per time period: ");
numberofTimes = key.nextInt();
System.out.print("Enter the number of time periods elapsed: ");
timePeriod = key.nextInt();
compoundInterest = principal * (Math.pow(1 + (rate/numberofTimes), (numberofTimes * timePeriod)));
System.out.printf(" %.2f", compoundInterest);
}
}
<!DOCTYPE html>
<html>
<head>
<title>Compound Interest Calculator</title>
</head>
<body>
<h2>Compound Interest Calculator</h2>
<form method="post" action="">
<label for="principal">Principal Amount (P):</label>
<input type="decimal" name="principal" required><br><br>
<label for="rate">Annual Interest Rate (r):</label>
<input type="decimal" name="rate" required><br><br>
<label for="time">Time Period (t in years):</label>
<input type="text" name="time" required><br><br>
<label for="compounds">Number of Times Compounded Annually
:</label><input type="number" name="compounds" required><br><br>
<input type="submit" name="calculate" value="Calculate">
</form>
<?php
if (isset($_POST['calculate'])) {
$principal = ($_POST['principal']);
$rate = ($_POST['rate']); // Convert percentage to decimal
$time = ($_POST['time']);
$compounds = ($_POST['compounds']);
$amount = $principal * (pow(1 + ($rate / $compounds), ($compounds * $time)));
echo "<h2>Result:</h2>";
echo "Principal Amount: $principal<br>";
echo "Interest Rate: $rate<br>";
echo "Compounds: $compounds<br>";
echo "Time Period: $time years<br>";
echo "Compound Interest: $amount";
}
?>
</body>
</html>
