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Kotlin program to calculate compound interest

Kotlin | Compound Interest: Here, we are implementing a Kotlin program to calculate the Compound interest. Submitted by IncludeHelp, on May 12, 2020

Compound interest is the sum of principal amount and interest of interest.

Problem statement

Given, principal, rate, and time, we have to calculate the Compound interest.

Kotlin - Calculate compound interest

Formula to calculate Compound interest is: P * (Math.pow(( 1 + R/100), T)

Where,

• P is Principal amount.
• R is rate of interest per annum.
• T is time in years.

Example:

Input:
P = 5000
R = 12
T = 5

Output:
Compound Interest = 8811.708416000003

Program to calculate Compound interest in Kotlin

package com.includehelp

import java.util.*

//Main Function , Entry point of Program
fun main(args: Array<String>) {

    //Input Stream
    val scanner = Scanner(System.`in`)

    //Input Amount
    print("Enter Principal Amount : ")
    val principalAmount = scanner.nextDouble()

    //Input Interest Rate
    print("Enter Rate of Interest : ")
    val rateOfInterest = scanner.nextDouble()

    //Input time in years
    print("Enter Time : ")
    val time = scanner.nextDouble()

    //Calculate Compound Interest
    val compoundInterest = principalAmount.toDouble() * Math.pow((1 + rateOfInterest.toDouble()/100.00),time.toDouble())

    //Print Compound Interest
    println("Compound Interest is :$compoundInterest")
}

Output

Enter Principal Amount : 5000
Enter Rate of Interest : 12
Enter Time : 5
Compound Interest is :8811.708416000003