Question

Write an application that calculates the amount of money earned on an investment.

Prompt the user to enter an investment amount, the number of years for the investment, and the interest rate.

Display an error message if the user enters 0 for any of these values; otherwise, display the total amount (balance) for each year of the investment.

Save the file as Investment.java.

Java Program

Specific instructions:

• Program must use 4 methods to accomplish the following:
  • Prompt for and return the investment amount
  • Prompt for and return the number of years
  • Prompt for and return the interest rate
  • Display the calculations

Your output must resemble the sample below. Notice the formatting of the dollar amounts. You need to display 2 decimal places for all amounts, even for those with whole dollar amounts.

Enter investment amount: 100

Enter number of years: 10

Enter interest rate <as a decimal>: 0.5

Your Investment at 5..0% is:

After year 1 $105.00

After year 2 $110.25

After year 3 $115.76

After year 4 $121.55

After year 5 $127.63

After year 6 $134.01

After year 7 $140.71

After year 8 $147.75

After year 9 $155.13

After year 10 $162.89

Answer 1

Main.java:

import java.util.Scanner;
public class Main
{
   public static void main(String[] args) {
       float amount=Main.investAmount();
       int year=Main.years();
       float rate=Main.rate();
       Main.calculations(amount,year,rate);
   }
   public static float investAmount(){
   System.out.println("Enter investment Amount:");
   Scanner sc = new Scanner(System.in);
   float invest=sc.nextFloat();
   return invest;
   }
   public static int years(){
   System.out.println("Enter no of years:");
   Scanner sc = new Scanner(System.in);
   int years=sc.nextInt();
   return years;
   }
   public static float rate(){
   System.out.println("Enter interest rate(in decimal):");
   Scanner sc = new Scanner(System.in);
   float rate=sc.nextFloat();
   return rate;
   }
   public static void calculations(float inv, int year, float rate){
   int i;
   for (i=1;i<=year;i++)
   {
   inv=inv+(inv*rate);
   System.out.printf("After Year "+i+" is : %.2f\n",inv);
   }
  
   }
}

Indentation for clear understanding:

Output: