Compound interest .... !!!
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
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
CEHJ
Out of interest (no pun intended) why would you want to do it recursively?
I reckon it says to as part b of the homework... ;-)
SOLUTION
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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 )
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 )
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.
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.
> 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?
Which one do you think is recursive?
;-)
SOLUTION
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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;
}
{
float balance=0;
for(int count=0; count<n; count++)
{
balance*= Math.pow(( 1 + i ), n);
}
return balance;
}
Dannin, your balance will always remain zero.
Also, by the way, why is balance supposed to multiplied by (( 1 + i ) ^ n) 'n' number of times?
ASKER CERTIFIED SOLUTION
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Well isn't it the way the person who asked the question wanted it?
> Tell your teacher that recursion should be avoided
except if you're learing about recursion :)
except if you're learing about recursion :)
Then an example that needs recursion should be given
An (familiar) problem that can be solved with recursion is just as suitable.
ASKER
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 .....
anyway ..... thanks for ur help guys .....
By the way, why did you accept my comment as an assist? (I was still waiting to assist after getting some comments from you :-) )