Question

Write a program that reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula: futureInvestmentValue = investmentAmount * (1 + monthyInterestRate)numberOfYears*12. For example if you enter amount 1000, annual interest rate 3.25%, and number of years 1, the future investment value is 1032.98.NB: Please make sure to use the NumberFormat coding for currency to display your results. (Java Programming)

Answer 1

Answer:

Following are the code to this question:

import java.util.*; //importing package for user input

public class Main //defining class

{

public static void main(String []ar) //defining main method

{

double investment_amount,interest_rate,future_investment_value; //defining double variables

int years; //defining integer variable

Scanner obx=new Scanner(System.in); //creating Scanner class Object

System.out.print("Enter invest value: "); //print message

investment_amount=obx.nextDouble(); //input value

System.out.print("Enter interest rate: ");//print message

interest_rate=obx.nextDouble();//input value

System.out.print("Enter number of years: ");//print message

years=obx.nextInt();//input value

future_investment_value=investment_amount*Math.pow((1+interest_rate/1200.),years*12); //calculating value by apply formula

System.out.println("you enter amount: $"+investment_amount); //print calculated value

System.out.println("annual interest rate:"+interest_rate+"%");//print calculated value

System.out.printf("Number of years: "+years+" the future investment value is :$%.2f\n",future_investment_value);//print calculated value

}

}

output:

please find the attachment.

Explanation:

Program Description:

• In the above-given program, inside the main method, a variable is declared that are investment_amount, interest_rate, future_investment_value, and years, in which only year variable is an integer type and other variables are double types.
• In the next step, a scanner class object that is "obx" is created, which is used to input value from the user end, in the next line we apply the formula to calculate the future_investment_value.
• At the last step, we all the input and a calculated value