CODEWITHSUNDEEP
java
zak
zak

Reputation: 89

Java application - Finding how many years it will take a 2500 investment to be worth 5000 at 7.5% interest

I'm practicing while and for in java. The question is making a program that calculates the amount of years it will take a 2500 investment to be worth 5000 at an investment rate of 7.5%. Years keeps coming back as 1, which isn't the correct answer. I'm relatively new to Java and only know what I've learned in school so far. I know this can be done using a simple formula but the exercise requires using while, for, if, etc. Please help!

    int years = 0;
    int i = 2500;

    while (i < 5000) {
        double interest = i * 1.075;
        i += interest;
        years ++;
    }

    System.out.println("It will take " + years + " years for a $2,500 investment to be worth at least $5,000");

    }


}

Upvotes: 0

Views: 480

Answers (1)

tune5ths
tune5ths

Reputation: 723

Your multiplier is actually calculating 107.5% interest, which comes out to 2687.50 for the first year.

You should change your interest multiplier to .075 instead of 1.075:

    double interest = i * .075;

Upvotes: 1

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