Java Exercises: Compute the amount of the debt in n months

Java Basic: Exercise-215 with Solution

Write a Java program to compute the amount of the debt in n months. The borrowing amount is $100,000 and the loan adds 4% interest of the debt and rounds it to the nearest 1,000 above month by month.

Input:

An integer n (0 ≤ n ≤ 100).

Sample Solution:

Java Code:

import java.util.Scanner;
public class Main { 
    public static void main(String[] args) {
   Scanner s = new Scanner(System.in);
   System.out.println("Input number of months:");
        int n = s.nextInt();
        double c = 100000;
        for(int i = 0; i < n; i++) {
            c += c*0.04;
            if(c % 1000 != 0) {
                c -= c % 1000;
                c += 1000;
            }             
        }
       System.out.println("\nAmount of debt: ");
        System.out.printf("%.0f\n",c);
    }
}

Sample Output:

Input number of months:
 6

Amount of debt: 
129000

Flowchart:

Java Code Editor:

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