Question

Write an application that calculates and displays the amount of money a user would have if his or her money could be invested at 5 percent interest for one year. Create a method that prompts the user for the starting value of the investment and returns it to the calling program. Call a separate method to do the calculation, and return the result to be displayed. Save the program as Interest.java.

Answer 1

Answer:

Following are the program to this question:

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

class Interest //defining class Interest

{

   static double rate_of_interest = 5.00;//defining static double varaibale  

   public static double Invest_value()//defining method Invest_value

   {

           double invest;//defining double variable invest

           Scanner inc = new Scanner(System.in);//creating Scanner class object  

           System.out.print("Enter investment value: ");

           invest = inc.nextDouble();//input value in invest variable

           return invest;//return invest value

  }

  public static double calculated_Amount(double invest)//defining method calculated_Amount that accept parameter

  {

           double amount;//defining double variable

           amount = invest+ (invest * (rate_of_interest/100));//use amount to calculat 5 % of invest value

           return amount;//return amount value

  }

   

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

   {

   double investment_value;//defining double variable

   investment_value= Invest_value();//use investment_value to hold method Invest_value value

   System.out.println("The 5% of the invest value: "+ calculated_Amount(investment_value));//use print method to print calculated_Amount value

  }

}

Output:

Enter investment value: 3000

The 5% of the invest value: 3150.0

Explanation:

In the above program a class "Interest", is defined inside the class a static double variable "rate_of_interest"  is declared that store a double value, in the next step, two methods "Invest_value and calculated_Amount" is declared.

In the "Invest_value" method, scanner class object is created for input value in the "invest" variable and the "calculated_Amount" accepts an "invest" value in its parameter and calculate its 5% and store its value in the "amount" variable.

Inside the main method, the "investment_value" is declared that holds the "Invest_value"  method value and pass the value in the "investment_value" variable in the "calculated_Amount" method and prints its return value.