Question

Please use public class for java. Thank you.

1. (10 points) Write a method that computes future investment value at a given interest rate for a specified number of years. The future investment is determined using the formula futurelnvestmentValue numberOfYears 12 investmentAmount X ( monthlyInterestRate) Use the following method header: public static double futurelnvestmentValue( double investmentAmount, double monthlyInterestRate, int years) For example, futureInvestmentValue 10000, 0.05/12, 5) returns 12833.59. Write a test program that prompts the user to enter the investment amount (e.g., 1000) and the interest rate (eg, 9%) and prints a table that displays future value for the years from 1 to 30, as shown below The amount invested: 1000 Annual interest rate: 9 Years Future Value 11093.80 2 1196.41 29 13467.25 30 14730.57

Answer 1

import java.util.Scanner;
public class Invest{
public static double futureInvestmentValue(double inestmentAmount,double monthlyInterestRate,int years)
{
return inestmentAmount*Math.pow(1.0+monthlyInterestRate,years*12.0);
}
public static void main(String []args){
Scanner sc = new Scanner(System.in);
System.out.println("The amount invested: ");
double amt=sc.nextDouble();
System.out.println("Annual interest rate: ");
double r=sc.nextDouble();
System.out.println("Years\tFuture Value");
r=r/100.0;
for(int i=1;i<=30;i++)
System.out.printf("%d\t%.2f\n",i,futureInvestmentValue(amt,r/12.0,i));
}
}