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EMI Calculator in Java - Java program to calculate EMI
EMI Calculator in Java - This program will read Loan Amount, Interest Rate and Time in Years and calculate monthly EMI.
EMI Calculator Program in Java
//EMI Calculator Program in Java
import java.util.*;
public class EmiCalc{
public static void main(String []args)
{
//Scanner class to take user input.
Scanner X = new Scanner(System.in);
double principal, rate, time, emi;
System.out.print("Enter principal: ");
principal = X.nextFloat();
System.out.print("Enter rate: ");
rate = X.nextFloat();
System.out.print("Enter time in year: ");
time = X.nextFloat();
rate=rate/(12*100); /*one month interest*/
time=time*12; /*one month period*/
emi= (principal*rate*Math.pow(1+rate,time))/(Math.pow(1+rate,time)-1);
System.out.print("Monthly EMI is= "+emi+"\n");
}
}
Output
me@linux:~$ javac EmiCalc.java
me@linux:~$ java EmiCalc
Enter principal: 1000000
Enter rate: 10.25
Enter time in year: 10
Monthly EMI is= 13353.900187677658
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