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Problem 2. (Compound Interest) If an amount a is invested at an interest rate r compounded n times per year, then the final value fat
Problem 2. (Compound Interest) If an amount a is invested at an interest rate r compounded n times per year, then the final value fat the end of one year is given by f - a(1 + r)r. This is the familiar formula for compound interest (so if we compound annually, then n - 1). Typically, compounding is done quarterly (n -4). daily (n 365) or continuously (n-) In a class called Compoundinterest, write a method that implements the compound interest formula fabove. This method should take the following parameters: a double a (as in the given formula), a double r (as in the given formula), and an int n (as in the given formula). This method should return the value of the investment at the end of a year (as specified by the formula f). You should NOT use any Math libray functions or any imports (hint: you will need a loop). Test your method in main using an initial investment of $100.00, an interest rate of 5 percent (i.e. r - 0.05), and the following values for the compound number: 1, 4, 365 1,000, and 10,000. Explain your results in your program's comments. For this problem. you should submit to Canvas one file: Compoundinterest.java
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