Need help with java compound interest

coxy909

im a first year student doing java programing and im having alot of trouble with dis question. Iv been asked 2 write a piece of code to calculate compound interest for a year while calculating it each month. I was advised to use a for loop ut i could no gt it to work. i am now trying the following but im continuosly being tod to enter a extra bracket;

public double calculateInterest()
{
    do
    {
        (i=1; i<2; i++;)
        
        1 + depInterestRate / 12 = amount * (12 * 1)= 
        newBalance * balance = newbalance + balance;
        
    }
    while(i<=12)
}

thnks 2 veryone in advance for help this is really appreciated.

feylya

You need to calculate compound interest on a sum of money. Firstly, you need to pass the function the amount of money that is earning the interest.

Then you'll need to have a loop to calculate the interest per month. You were nearly right with what you have in your code:

for (i=0; i<12; i++)
{
//Do something
}

To calculate the interest, the total is the money you have times the interest rate plus the money you already have so:

x = (x*interest) + x

Once you have that done, you need to return the value you've come up with.

ejvilla

Well I haven't looked at the code you're using to do your sums... but there is a problem with your do..while loop syntax.

Look here for more information:
http://java.sun.com/docs/books/tutorial/java/nutsandbolts/while.html


Clue: You're missing one character

ejvilla

Okay.. so I looked at the code you have inside the loop.. Is this your first java assignment? You really should read whatever notes they gave you about assigning values to variables... read the first two chapters of whatever java book you've been assigned and you should have all your answers..

Alternatively, look at the Sun Java Tutorial:

http://java.sun.com/docs/books/tutorial/

coxy909 wrote: »

im a first year student doing java programing and im having alot of trouble with dis question. Iv been asked 2 write a piece of code to calculate compound interest for a year while calculating it each month. I was advised to use a for loop ut i could no gt it to work. i am now trying the following but im continuosly being tod to enter a extra bracket;

public double calculateInterest()
{
    do
    {
        (i=1; i<2; i++;)
        
        1 + depInterestRate / 12 = amount * (12 * 1)= 
        newBalance * balance = newbalance + balance;
        
    }
    while(i<=12)
}

thnks 2 veryone in advance for help this is really appreciated.

coxy909

ejvilla wrote: »

Okay.. so I looked at the code you have inside the loop.. Is this your first java assignment? You really should read whatever notes they gave you about assigning values to variables... read the first two chapters of whatever java book you've been assigned and you should have all your answers..

Alternatively, look at the Sun Java Tutorial:

http://java.sun.com/docs/books/tutorial/

thnks 4 da help ya its my first proper 1 jus find loops really hard for some reason thanks again

coxy909

feylya wrote: »

You need to calculate compound interest on a sum of money. Firstly, you need to pass the function the amount of money that is earning the interest.

Then you'll need to have a loop to calculate the interest per month. You were nearly right with what you have in your code:

for (i=0; i<12; i++)
{
//Do something
}

To calculate the interest, the total is the money you have times the interest rate plus the money you already have so:

x = (x*interest) + x

Once you have that done, you need to return the value you've come up with.

thnks man dat helpa a serious amount didnt no what i was doing wrong i completly forgot about the value il give it a try hopefully everything will go ok from der

Hobbes

coxy909 wrote: »

thnks 2 veryone in advance for help this is really appreciated.

Can you explain in detail what each of the lines you wrote was supposed to do.

coxy909

Hobbes wrote: »

Can you explain in detail what each of the lines you wrote was supposed to do.

em basically
the do statement is meant to calculate the interest each month for my customer i was told to use a if statement by anova class member and tried this jus now but it would not compile either saying it expected ) this new code is below
public void calculateInterest()

{
for (int i;i<12;i++;)
{
balance = balance * (1 + (depInterestRate/12)) * 12;
}
return balance;
}
}

if u can help wit either thnks a mill

public double calculateInterest()
{
do
{
(i=1; i<12; i++;)

1 + depInterestRate / 12 = amount * (12 * 1)=
newBalance * balance = newbalance + balance;

}
while(i<=12)
}

Hobbes

No I mean you explain each line. not the code as a whole.