Java program to calcuate EMI

Program:

package com.javadomain.flipkart.in;
public class EMI {
    public static void main(String[] args) {

    	String amount ="200000";
    	String inter = "12";
    	String month = "84";

        //  double loanAmount = 200000;
         // int rateOfInterest = 12;
         // int numberOfMonths = 84;

    	double loanAmount = Double.parseDouble(amount);
    	int rateOfInterest = Integer.parseInt(inter);
    	int numberOfMonths = Integer.parseInt(month);

          double temp = 1200;           //100*numberofmonths(12))
          double interestPerMonth = rateOfInterest/temp;
          //System.out.println(interestPerMonth);

          double onePlusInterestPerMonth = 1 + interestPerMonth;
          //System.out.println(onePlusInterestPerMonth);

          double powerOfOnePlusInterestPerMonth = Math.pow(onePlusInterestPerMonth,numberOfMonths);
          //System.out.println(powerOfOnePlusInterestPerMonth);

          double powerofOnePlusInterestPerMonthMinusOne = powerOfOnePlusInterestPerMonth-1;
          //System.out.println(powerofOnePlusInterestPerMonthMinusOne);

          double divides = powerOfOnePlusInterestPerMonth/powerofOnePlusInterestPerMonthMinusOne;

          double principleMultiplyInterestPerMonth = loanAmount * interestPerMonth;
          //System.out.println(principleMultiplyInterestPerMonth);

          double totalEmi =  principleMultiplyInterestPerMonth*divides;
          System.out.println("EMI per month (Exact) : " + totalEmi);

          double finalValue = Math.round( totalEmi * 100.0 ) / 100.0;

          System.out.println("EMI per month (Rounded) : " + finalValue);
    }
}

Output:

EMI per month (Exact) : 3530.546559414762
EMI per month (Rounded) : 3530.55

 

 

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