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Kotlin program to calculate compound interest

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YasminRadwan26
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2022-07-12
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Compound interest is the sum of principal amount and interest of interest.

Given, principal, rate, and time, we have to calculate the Compound interest.

Formula to calculate Compound interest is: P * (Math.pow(( 1 + R/100), T)

Where,

  • P is Principal amount.
  • R is rate of interest per annum.
  • T is time in years.

Example:

    Input:
    P = 5000
    R = 12
    T = 5

    Output:
    Compound Interest = 8811.708416000003
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YasminRadwan26
2022-07-12
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Program to calculate Compound interest in Kotlin

package com.includehelp

import java.util.*

//Main Function , Entry point of Program
fun main(args: Array<String>) {

    //Input Stream
    val scanner = Scanner(System.`in`)

    //Input Amount
    print("Enter Principal Amount : ")
    val principalAmount = scanner.nextDouble()

    //Input Interest Rate
    print("Enter Rate of Interest : ")
    val rateOfInterest = scanner.nextDouble()

    //Input time in years
    print("Enter Time : ")
    val time = scanner.nextDouble()

    //Calculate Compound Interest
    val compoundInterest = principalAmount.toDouble() * Math.pow((1 + rateOfInterest.toDouble()/100.00),time.toDouble())

    //Print Compound Interest
    println("Compound Interest is :$compoundInterest")
}

Output

Enter Principal Amount : 5000
Enter Rate of Interest : 12
Enter Time : 5
Compound Interest is :8811.708416000003

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