Simple Interest = (P × R × T) / 100
P — Principal amount
R — rate per annum
T — time in years
Java method to calculate simple interest with given p, r and t values.
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public double getSimpleInterest(int p, double r, int t) { double simpleInterest = (p * r * t) / 100; return simpleInterest; } |
Compound Interest = P (1 + R/n) (nt) – P
P — the principal investment amount (the initial deposit or loan amount)
r — the annual interest rate (decimal)
n — the number of times that interest is compounded per unit t
t — the time the money is invested or borrowed for
Java method to calculate compound interest with given P, t, r and n values.
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public double getCompoundInterest(int p, int t, double r, int n) { double amount = p * Math.pow(1 + (r / n), n * t); double compundInterest = amount - p; return compundInterest; } |
Java method to check whether given year is a leap year or not
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public boolean isLeapYear(int year) { boolean isLeap = false; if (year % 4 == 0) { if (year % 100 == 0) { if (year % 400 == 0) { isLeap = true; } else { isLeap = false; } } else { isLeap = true; } } else { isLeap = false; } return isLeap; } |