USE JAVA ECLIPSE

USE JAVA ECLIPSE

You are required to use the for loop(while loop is not accepted). Problem Description 1 Suppose you save $ 100 each month into a savings account with annual interest rate 5%. Thus, the monthly interest rate is 0.05/12 = 0.00417. After the first month, the value in the account becomes 100 * (1 +0.00417) = 100.417 After the second month, the value in the account becomes (100 + 100.417) * (1 +0.00417) = 201.252 After the third month, the value in the account becomes (100 + 201.252) * (1 + 0.00417) = 302.507 and so on. Write a program that prompts the user to input a monthly saving amount and displays the account value after the sixth month. What you submit: 1. The flow chart 5 points 2. Program source file 7.5 points Problem Statement 2 You are required to use the for loop(while loop is not accepted). (Financial application: compute CD value) Suppose you put $10,000 into a CD with an annual % yield of 5.75%. After one month, the CD is worth 10000 + 10000 * 5.75 / 1200 = 10047.92 After two months the CD is worth 10047.91 + 10047.91 * 5.75 / 1200 = 10096.06 After three months the CD is worth 10096.06 + 10096.06 * 5.75 / 1200 = 10144.44 and so on. - Write a program that prompts the use to enter an amount (e.g., 10000), the annual percentage yield (e.g, 5.75), and the number of months (e.g, 18) and displays a table as shown in the sample run. What you submit 1. The flow chart 5 points 2. Program source file 7.5 points Submission Instructions