Question

Write a program that takes two numbers from the Java console representing, respectively, an investment and an interest rate (you will expect the user to enter a number such as .065 for the interest rate, representing a 6.5% interest rate). Your program should calculate and output (in $ notation) the future value of the investment in 5, 10, and 20 years using the following formula:
future value = investment * (1 + interest rate)^year

We will assume that the interest rate is an annual rate and is compounded annually.

Answer 1

Answer:

in this case you have to use a For cycle

Explanation:

This is the entire code for this program

Step 1: We declare two variables investment and interest with double, and we take the numbers with the console.

We ask with console the two numbers  

We show the two number in console

Step 2: We create two new double variable: Value and cont5

We save the formula in the variable Value

We create 3 For cycle

the first one for 5 years

the second one for 10 years

the third one for 20 years

package javaapplication6;

import java.util.*;

public class JavaApplication6 {

   /**

    * @param args the command line arguments

    */

   public static void main(String[] args) {

       // TODO code application logic here

     double investment;

     double interest;

Scanner keyboard = new Scanner(System.in);

 

System.out.println("Enter the investment");

investment = keyboard.nextDouble();

System.out.println("Enter the interest" );

interest = keyboard.nextDouble();

 

System.out.println("With an investment of $"+investment);

 

System.out.println("an interest rate of "+interest+"% compounded annually:");

double Value = investment * (1+interest);

double cont5 = Value;

//int Value = getValue(investment,interest,5);

for(int year = 1; year <= 4; year++){

   cont5 = cont5 * Value;

}

System.out.println("In 5 years the value is : "+"$"+cont5);

double cont10 = Value;

//Value = getValue(investment,interest,10);

for(int year = 1; year <= 9; year++){

   cont10 = cont10 * Value;

}

System.out.println("In 10 years the value is : "+"$"+cont10);

double cont20 = Value;

//Value = getValue(investment,interest,20);

for(int year = 1; year <= 19; year++){

   cont20 = cont20 * Value;

}

System.out.println("In 20 years the value is : "+"$"+cont20);

}

}