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This must be done all parts and completely in java for good rating A savings account typically accrues savings using compound interest. If you deposit
This must be done all parts and completely in java for good rating
- A savings account typically accrues savings using compound interest. If you deposit $1,000 with a 10% interest rate per year, then after one year you have a total of $1,100. If you leave this money in the account for another year at 10% interest, then after two years the total will be $1,210. After three years, you would have $1,331, and so on.
Write a program that inputs the amount of money to deposit, an interest rate per year, and the number of years the money will accrue compound interest.
NOTE: Your implementation must include the definition/implementation and use/calling of a recursive method calcAccountBalance that is passed to its parameter variable the following values, and returns the resulting account balance:
- the starting balance,
- the interest rate, and
- the term (number of years)
For project:
Use the Design Recipe to design the algorithm for each method (main and others), showing all work as comments in the source code (.java) file.
Using Eclipse, implement the algorithm as a program.
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