?
Solved

Compound interest .... !!!

Posted on 2003-12-11
18
Medium Priority
?
735 Views
Last Modified: 2007-12-19
hi everyone, i need help on that question ....

what is the compound interest formula if i'm using 'i' for the rate and 'n' for the numbers of years ???

i already wrote two functions but they're not working !!!!

//============================================
// First one
//========

    public float Total(float i,int n)            //Savings -> return balance after n years and i interest
    {
        for(int count=0; count<n; count++)
        {
            Balance *= Math.pow(( 1 + i ), n);
        }
        return Balance;
    }
//================

// Second one
//========

    public float Total(float i,int n)            //Savings -> return balance after n years and i interest
    {
        return Balance *= Math.pow(( 1 + i ), n);
    }
//============================
i don't know what one is the correct one .... i'm not a business major :P


and if by any chance ..... could anyone tell me how to do it in the recursive way !!!

thankz
0
Comment
Question by:hackermen5
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
  • 5
  • 4
  • 3
  • +3
18 Comments
 
LVL 86

Expert Comment

by:CEHJ
ID: 9919687
Out of interest (no pun intended) why would you want to do it recursively?
0
 
LVL 35

Expert Comment

by:TimYates
ID: 9919717
I reckon it says to as part b of the homework... ;-)
0
 
LVL 35

Assisted Solution

by:TimYates
TimYates earned 300 total points
ID: 9919805
Compound Interest is calculated like:

public calculateCompoundInterest( double rate, double period )
{
    balance = balance * Math.pow( 1+rate, period ) - balance ;
}

Make sure your "balance" variable is a double...(not an int)

Tim
0
VIDEO: THE CONCERTO CLOUD FOR HEALTHCARE

Modern healthcare requires a modern cloud. View this brief video to understand how the Concerto Cloud for Healthcare can help your organization.

 
LVL 86

Expert Comment

by:CEHJ
ID: 9919821
Tell your teacher that recursion should be avoided where it's not necessary (as it is not here;-))

The formula for simple interest is:   F  =  P ( 1 + R / N ) ^ ( N * T )

             Where :  F   =  final amount
                           P   =  initial amount
                           R   = interest rate
                           N   = number of compounding periods
                           T   = Time ( in years )

0
 
LVL 30

Expert Comment

by:Mayank S
ID: 9919966
More importantly, the recursive function that he's written will go on looping forever as there's no stopping condition.

BTW, hackermen5, this is not a place to tell you the correct formula :-) we can help you with the coding/ implementation if you face problems.

I guess he needs recursion in computing the value of (1 + R/N) ^ T.... (for computing the exponential value). Strange way.

Mayank.
0
 
LVL 35

Expert Comment

by:TimYates
ID: 9920030
>  More importantly, the recursive function that he's written will go on looping forever as there's no stopping condition.

Which one do you think is recursive?
0
 
LVL 35

Expert Comment

by:TimYates
ID: 9920031
;-)
0
 
LVL 30

Assisted Solution

by:Mayank S
Mayank S earned 150 total points
ID: 9920120
public float Total(float i,int n)            //Savings -> return balance after n years and i interest
    {
        return Balance *= Math.pow(( 1 + i ), n);
    }
//============================

Sorry, I thought I saw a call to Total () instead of pow :-) didn't read it completely.... thought that the first was non-recursive and the second recursive.

Anyways, he's still not told us why he needs the recursion.
0
 
LVL 2

Expert Comment

by:Dannin
ID: 9920240
     public float Total(float i,int n)  
      {
          float balance=0;
          for(int count=0; count<n; count++)
          {

                  balance*= Math.pow(( 1 + i ), n);
          }
          return balance;
      }
0
 
LVL 30

Expert Comment

by:Mayank S
ID: 9920283
Dannin, your balance will always remain zero.
0
 
LVL 30

Expert Comment

by:Mayank S
ID: 9920299
Also, by the way, why is balance supposed to multiplied by (( 1 + i ) ^ n) 'n' number of times?
0
 
LVL 2

Accepted Solution

by:
Dannin earned 300 total points
ID: 9920301
Opps I'm too used to addition lol

    public float Total(float i,int n)  
     {
         float balance=1;
         for(int count=0; count<n; count++)
         {

               balance*= Math.pow(( 1 + i ), n);
         }
         return balance;
     }
Here u go
0
 
LVL 2

Expert Comment

by:Dannin
ID: 9920314
Well isn't it the way the person who asked the question wanted it?
0
 
LVL 92

Expert Comment

by:objects
ID: 9923823
> Tell your teacher that recursion should be avoided

except if you're learing about recursion :)
0
 
LVL 86

Expert Comment

by:CEHJ
ID: 9923910
Then an example that needs recursion should be given
0
 
LVL 92

Expert Comment

by:objects
ID: 9924061
An (familiar) problem that can be solved with recursion is just as suitable.
0
 
LVL 1

Author Comment

by:hackermen5
ID: 9924836
i'm sorry uys ... but my teaher is not that nice to give us an example of recursion .... i didn't even understand the recursion concept yet .....

anyway ..... thanks for ur help guys .....
0
 
LVL 30

Expert Comment

by:Mayank S
ID: 9925774
By the way, why did you accept my comment as an assist? (I was still waiting to assist after getting some comments from you :-) )
0

Featured Post

[Webinar] Lessons on Recovering from Petya

Skyport is working hard to help customers recover from recent attacks, like the Petya worm. This work has brought to light some important lessons. New malware attacks like this can take down your entire environment. Learn from others mistakes on how to prevent Petya like worms.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Go is an acronym of golang, is a programming language developed Google in 2007. Go is a new language that is mostly in the C family, with significant input from Pascal/Modula/Oberon family. Hence Go arisen as low-level language with fast compilation…
In this post we will learn how to make Android Gesture Tutorial and give different functionality whenever a user Touch or Scroll android screen.
Viewers learn how to read error messages and identify possible mistakes that could cause hours of frustration. Coding is as much about debugging your code as it is about writing it. Define Error Message: Line Numbers: Type of Error: Break Down…
How to fix incompatible JVM issue while installing Eclipse While installing Eclipse in windows, got one error like above and unable to proceed with the installation. This video describes how to successfully install Eclipse. How to solve incompa…
Suggested Courses
Course of the Month9 days, 8 hours left to enroll

762 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question