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

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## 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.
Java 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:
Java Code:
```IniAmount        Interest   Number of year

100                 3%             n
1000               2%             n
10000             1.5%          n```  Reply With Quote

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## 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.  Reply With Quote

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## 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?~  Reply With Quote

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## 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......  Reply With Quote

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## 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  Reply With Quote

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## 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....  Reply With Quote

7. ## 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  Reply With Quote

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## 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
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?  Reply With Quote

9. ## Re: program ,deposit of an amount of money in a bank

You just wrote it down yourself: newAmount= oldAmount*1.06

kind regards,

Jos  Reply With Quote

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## Re: program ,deposit of an amount of money in a bank 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
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...
Last edited by aou; 08-04-2012 at 01:50 AM.  Reply With Quote

11. ## Re: program ,deposit of an amount of money in a bank 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.
Last edited by Fubarable; 08-04-2012 at 02:56 AM.  Reply With Quote

12. ## Re: program ,deposit of an amount of money in a bank

You sent this to me as a private message: 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.
Java 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:
Java 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 ..

PHP 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.  Reply With Quote

13. ## Re: program ,deposit of an amount of money in a bank Originally Posted by Fubarable You sent this to me as a private message:

To you too? The OP really is ignoring my tip about trying it himself first and come back later when he's stuck ...

kind regards,

Jos  Reply With Quote

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