Simple Interest Calculator

Shreya Mukherjee
February 14, 2021

Overview

This presentation serves as the pitch for the Shiny app created as part of the final project of the course Developing Data Products

This project consists of 2 parts:

  • The Shiny app
  • This presentation

The Shiny app is available here

Shiny Application Overview

The app is a simple interest and total amount calculator. The app uses the following widgets for inputs on the side bar panel:

  • A numeric input for the principal amount
  • A slider input for the rate of interest
  • Another slider input for the time period (in years)
  • A submit button

The app has 2 tabs on the main panel:

  • A Get Started! tab overviewing the formulae used
  • A Results tab for obviously, displaying the results

Shiny Application Overview (contd.)

The formulae used are:

SI = Prt
A = P + SI = P(1 + rt)

where,

SI = simple interest
P = principal amount
r = rate of interest
t = time period
A = total amount

Example

P <- 10000
r <- 9/100 #since r is in percent(%)
t <- 6

SI <- P * r * t
A <- P + SI

paste("Simple interest is", SI)

[1] "Simple interest is 5400"

paste("Total amount is", A)

[1] "Total amount is 15400"