java program to calculate compound interest

1// Java program to find simple interest
2import java.util.Scanner;
3public class SimpleInterestJavaProgram
4{
5   public static void main(String[] args)
6   {
7      float principal, rate, time;
8      Scanner sc = new Scanner(System.in);
9      System.out.print("Enter principal amount : ");
10      principal = sc.nextFloat();
11      System.out.print("Please enter rate annually : ");
12      rate = sc.nextFloat();
13      System.out.print("Please enter time(in years) : ");
14      time = sc.nextFloat();
15      float simpleInterest;
16      simpleInterest = (principal * time * rate) / 100;
17      System.out.println("The Simple Interest is : " + simpleInterest);
18      sc.close();
19   }
20}

1// Java program to calculate compound interest
2public class CompoundInterestDemo 
3{
4   public void calculateCompound(int p, int t, double r, int n) 
5   {
6      double number = p * Math.pow(1 + (r / n), n * t);
7      double interest = number - p;
8      System.out.println("Compound interest after " + t + " years: " + interest);
9      System.out.println("Money after " + t + " years: " + number);
10   }
11   public static void main(String[] args) 
12   {
13      CompoundInterestDemo obj = new CompoundInterestDemo();
14      obj.calculateCompound(200000, 6, .06, 12);
15   }
16}