Java program to calculate compound interest

Write a Java program to calculate compound interest using the formula:

where:

• A is the amount of money accumulated after n years, including interest.
• P is the principal amount (the initial amount of money).
• r is the annual interest rate (decimal).
• n is the number of times that interest is compounded per unit year.
• t is the time the money is invested for in year

import java.util.Scanner;

public class CompoundInterest 
{
    public static void main(String args[]) 
	{
        Scanner sc = new Scanner(System.in);
        System.out.print("Enter the principal amount (P): ");
        double principal = sc.nextDouble();
        System.out.print("Enter the annual interest rate (r) in percentage: ");
        double annualRate = sc.nextDouble();
        System.out.print("Enter the number of times interest is compounded per year (n): ");
        int compounded = sc.nextInt();
        System.out.print("Enter the time in years (t): ");
        int years = sc.nextInt();
        double rate = annualRate / 100;
        double amount = principal * Math.pow(1 + (rate / compounded), compounded * years);
        System.out.println("The amount of money accumulated after " + years + " years, including interest, is: " + amount);
    }
}