Java Compound Interest Example Program

Compound Interest Example Program

/**

* This program shows how to store tabular data in a 2D array.

*/

public class CompoundInterest

{

public static void main(String[] args)

{

final double STARTRATE = 10;

final int NRATES = 6;

final int NYEARS = 10;

// set interest rates to 10 . . . 15%

double[] interestRate = new double[NRATES];

for (int j = 0; j <>

interestRate[j] = (STARTRATE + j) / 100.0;

double[][] balances = new double[NYEARS][NRATES];

// set initial balances to 10000

for (int j = 0; j <>

balances[0][j] = 10000;

// compute interest for future years

for (int i = 1; i <>

{

for (int j = 0; j <>

{

// get last year's balances from previous row

double oldBalance = balances[i - 1][j];

// compute interest

double interest = oldBalance * interestRate[j];

// compute this year's balances

balances[i][j] = oldBalance + interest;

}

}

// print one row of interest rates

for (int j = 0; j <>

System.out.printf("%9.0f%%", 100 * interestRate[j]);

System.out.println();

// print balance table

for (double[] row : balances)

{

// print table row

for (double b : row)

System.out.printf("%10.2f", b);

System.out.println();

}

}

}

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