Question
Write a program that takes two numbers from the Java console representing, respectively, an investment and an interest rate (you will expect the user to
Write a program that takes two numbers from the Java console representing, respectively, an investment and an interest rate (you will expect the user to enter a number such as .065 for the interest rate, representing a 6.5% interest rate). Your program should calculate and output (in $ notation) the future value of the investment in 5, 10, and 20 years using the following formula: future value = investment * (1 + interest rate)year We will assume that the interest rate is an annual rate and is compounded annually.
This is what I have so far- the program runs just fine I'm just having a hard time figuring out how to convert the future value into US dollars. Right now I'm getting back a long scientific number, so please help me figure out how to convert :)
import java.util.*; public class calculate { public static double getFutureValue(int investment,double interestRate,int year) { return Math.pow(investment*(1+interestRate),year); } public static void main(String[] args) { int investment; double dollars; double interestRate; Scanner keyboard = new Scanner(System.in); System.out.println("Enter the investment > "); investment = keyboard.nextInt(); System.out.println("Enter the interest rate > " ); interestRate = keyboard.nextDouble(); System.out.println("With an investment of $"+investment); System.out.println("at an interest rate of "+interestRate+"% compounded annually:"); double futureValue = getFutureValue(investment,interestRate,5); System.out.println("The future value after 5 years is : "+futureValue); futureValue = getFutureValue(investment,interestRate,10); System.out.println("The future value after 10 years is : "+futureValue); futureValue = getFutureValue(investment,interestRate,20); System.out.println("The future value after 20 years is : "+futureValue);
} }
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