Calculation with BigDecimal

Author: henry226

Chapter8 (Classes and Objects)/Interest/Interest.java

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+package Chapter8.Interest;
+
+import java.math.BigDecimal;
+import java.text.NumberFormat;
+
+// Compound-interest calculations with BigDecimal.
+public class Interest {
+	public static void main(String[] args) {
+		// initial principal amount before interest
+		BigDecimal principle = BigDecimal.valueOf(1000.0);
+		BigDecimal rate = BigDecimal.valueOf(0.05); // interest rate
+		
+		// display headers
+		System.out.printf("%s%20s%n", "Year", "Amount on deposit");
+		
+		// calculate amount on deposit for each of ten years
+		for(int year = 1; year <= 10; year++) {
+			// calculate new amount for specified year
+			BigDecimal amount = principle.multiply(rate.add(BigDecimal.ONE).pow(year));
+			
+			// display the year and the amount
+			System.out.printf("%4d%20s%n", year, NumberFormat.getCurrencyInstance().format(amount));
+		}
+	}
+
+}