Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem Description: Write a program in Java that reads in: (i) investment amount, (ii) annual interest rate, and (iii) number of years from the keyboard
Problem Description: Write a program in Java that reads in: (i) investment amount, (ii) annual interest rate, and (iii) number of years from the keyboard and calculates the future investment value using the following formulae: numberOfMonths=numberOfYears12monthlyInterestRate=1200annualInterestRateInPercentfutureInvestmentValue=investmentAmount(1+monthlyInterestRate)numberofmonths Sample Run: Enter investment amount: 1000 Enter annual interest rate in percentage points (e.g., 2.25 for 2.25% ): 2.25 Enter the number of years: 2 The value of $1000.0 after 2 years is $1045.9837866210664 Hints: 1. Import the Scanner class from the java.util package to read the three input variables. 2. Declare variables as "double" or "int" appropriately. 3. Use the Math.pow(a, b) function to compute ab. 4. Use the sample run in the instructions to test your program to make sure it is correct before you submit. Deliverables: Your .java file including: 1. A sample run at the top with investment amount of $2023.50, annual interest rate of 5.5%, and 4 years. The four lines of the output (similar to those shown in the sample run above) should be inserted as a comment on the top of the Java code (before the import and class statements). ( 2 points) 2. Your code with other appropriate comments. (Code: 6 points, Comments: 2 points)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started