# program ,deposit of an amount of money in a bank

• 08-03-2012, 09:33 PM
aou
program ,deposit of an amount of money in a bank
dear

A customer makes a deposit of an amount of money in a bank, this amount is designed by IniAmount ,
The bank gives 6% of compound interest, which means that at the end of the year, the new amount is calculated based on FinAmount.
What you should do:
You should write a java code; This code should calculate the FinAmount at the end of each year.
Code:

```The output should have this structure: IniAmount = 100 \$ Year    FinAmount 1        amount1 2        amount2 .          . .          . .          . 10      amount10```
And same output, for IniAmount = 1000\$.

Part b:
In this part, you take the same problem, but this time, you should write a java code, that calculate the number of years, after what the FinAmount becomes the double of IniAmount.
The output should be as following:
Code:

```IniAmount        Interest  Number of year 100                3%            n 1000              2%            n 10000            1.5%          n```
• 08-03-2012, 09:43 PM
doWhile
Re: program ,deposit of an amount of money in a bank
Please don't duplicate posts. And we are not a homework service nor a code service, so please don't dump what I presume to be your homework onto the forums. If you have a particular question regarding your attempt, then please ask.
• 08-03-2012, 09:53 PM
aou
Re: program ,deposit of an amount of money in a bank
dear sir
i need the way of solving this question as i said im newto java

any hint or psedu cod plz?~
• 08-03-2012, 10:10 PM
ftftftftftftftft
Re: program ,deposit of an amount of money in a bank
look after 1 year it ll be amount * 1.06 right?
than the second year it will be 1.06 * 1.06 * amount, right?
third year 1.06 * 1.06 * 1.06 * amount ... right?
..... so i guess if you want an easy explicit formula that just does the job you use this one money after n years = 1.06^n * amount......
• 08-03-2012, 10:21 PM
aou
Re: program ,deposit of an amount of money in a bank
thank you sir

what is the formula used to get amount*1.06?

plz can u write in psedu code so i can do some change
thanks
• 08-03-2012, 10:26 PM
ftftftftftftftft
Re: program ,deposit of an amount of money in a bank
.... well...... i dont know...... maybe it could look something like this in java.......
public double moneyAfterNYears(int n){
return this.amount * Math.pow(1.06, n);
}
..... but i think really you should try a little bit harder yourself.... i will go to bed now.... good luck with your homework....
• 08-03-2012, 10:35 PM
JosAH
Re: program ,deposit of an amount of money in a bank
Before this starts to be another spoonfeeding thread I suggest the OP to give it a try and come back afterwards if there's still some trouble.

kind regards,

Jos
• 08-03-2012, 10:48 PM
aou
Re: program ,deposit of an amount of money in a bank
in question said

code should calculate the FinAmount at the end of each year.

how i can do it?

and as the ftftftft said
Quote:

look after 1 year it ll be amount * 1.06 right?
than the second year it will be 1.06 * 1.06 * amount, right?
third year 1.06 * 1.06 * 1.06 * amount ... right?
..... so i guess if you want an easy explicit formula that just does the job you use this one money after n years = 1.06^n * amount......

what is the formula used to get amount*1.06?
• 08-03-2012, 10:55 PM
JosAH
Re: program ,deposit of an amount of money in a bank
You just wrote it down yourself: newAmount= oldAmount*1.06

kind regards,

Jos
• 08-04-2012, 01:48 AM
aou
Re: program ,deposit of an amount of money in a bank
Quote:

Originally Posted by aou
in question said

code should calculate the FinAmount at the end of each year.

how i can do it?

and as the ftftftft said
Quote:

look after 1 year it ll be amount * 1.06 right?
than the second year it will be 1.06 * 1.06 * amount, right?
third year 1.06 * 1.06 * 1.06 * amount ... right?
..... so i guess if you want an easy explicit formula that just does the job you use this one money after n years = 1.06^n * amount......

what is the formula used to get amount*1.06?

this number 1.6 frome wher?

this point still not clear...
• 08-04-2012, 02:54 AM
Fubarable
Re: program ,deposit of an amount of money in a bank
Quote:

Originally Posted by aou
this number 1.6 frome wher?

this point still not clear...

Take care not to make sloppy mistakes. It's not 1.6, it's 1.06. 1 is the multiplication identity multiplier and 0.06 is the 6% interest rate. To calculate what a number will be after adding 6% interest, you multiply that number by 1.06. For example if you want to know what %100 will be after adding 6% interest you calculate 100 + 100 * 0.06 which equals 100 * 1 + 100 * 0.06 which equals 100 * (1 + 0.06), which equals 100 * 1.06. QED.
• 08-04-2012, 08:08 PM
Fubarable
Re: program ,deposit of an amount of money in a bank
You sent this to me as a private message:

Quote:

Originally Posted by aou
dear sir
could plz check if it is the code required for this question

A customer makes a deposit of an amount of money in a bank, this amount is designed by IniAmount ,
The bank gives 6% of compound interest, which means that at the end of the year, the new amount is calculated based on FinAmount.
What you should do:
You should write a java code; This code should calculate the FinAmount at the end of each year.
Code:

```The output should have this structure: IniAmount = 100 \$ Year  FinAmount 1    amount1 2    amount2 .    . .    . .    . 10  amount10```
And same output, for IniAmount = 1000\$.

Part b:

In this part, you take the same problem, but this time, you should write a java code, that calculate the number of years, after what the FinAmount becomes the double of IniAmount.
The output should be as following:
Code:

```IniAmount  Interest  Number of year 100            3%          n 1000            2%          n 10000            1.5%        n```

----------------------------------------------------------------------------------------------------------------------------
the code here and if u can make any change plz and very sory foe pm u here i hope u will help me
so im waiting ur change of my code ..

Code:

```public class BankAccount {     private double amount;     private double intrestRate;         public BankAccount(double amount, double intrestRate) {         this.amount = amount;                this.intrestRate = intrestRate;     }         public double calcMoneyAfterNYears(int n){         return this.amount * Math.pow(this.intrestRate / 100 + 1.0, n);     }         public void printResult1(){                System.out.println("year\tmoney\n" );         for(int i = 0; i < 10; i++){             System.out.println(i + "\t" + this.calcMoneyAfterNYears(i));         }     }         public int numberOfYearsTillDoubled(){         int n = 0;         double tempAmount = 0.0;         while(true){             tempAmount = this.calcMoneyAfterNYears(n);             if(tempAmount >= this.amount * 2){                 break;             }             n++;         }         return n;     }         public void printResult2(){         System.out.println("amount\tintrest\tyears till doubled\n");         System.out.println(this.amount +"\t" + this.intrestRate +"\t" + this.numberOfYearsTillDoubled());     }         public static void main(String[] args){         BankAccount b = new BankAccount(100.0, 1.06);         b.printResult1();         BankAccount b2 = new BankAccount(100.0, 3.0);         b2.printResult2();         b2 = new BankAccount(1000.0, 2.0);         b2.printResult2();         b2 = new BankAccount(1000.0, 1.5.0);         b2.printResult2();         //b2 = new BankAccount(1000.0, 15.0);         //b2.printResult2();     } }```
any cahnge plzzz

Thanks.
• 08-04-2012, 09:35 PM
JosAH
Re: program ,deposit of an amount of money in a bank
Quote:

Originally Posted by Fubarable
You sent this to me as a private message: