Need to answered in Java. Moneynext = Moneytoday(1+rate) The growth formula per

Question

Need to answered in Java.

Moneynext = Moneytoday(1+rate)

The growth formula per year is simply: Assume you withdraw money from the account after it grows (you cannot withdraw more than the account has!). Find out how long it takes to reach the desired amount of money (if it is reachable at all).

Example 1 (user input is italic):

Initial investment? 1000

Yearly growth rate? 0.1

Yearly withdraw amount? 50

Desired balance? 1000000

Years: 80

Balance at end: 1.0247e+06

Amount withdrawn over period: 4000

Example 2 (user input is italic):

Initial investment? 100

Yearly growth rate? 0.1

Yearly withdraw amount? 99999999

Desired balance? 1000000

Years: 1

Balance at end: 0

Amount withdrawn over period: 110

Example 3 (user input is italic):

Initial investment? 1000

Yearly growth rate? ­0.1

Yearly withdraw amount? 20

Desired balance? 1000000

Years: 18

Balance at end: 0

Amount withdrawn over period: 340.114

Example 4 (user input is italic):

Initial investment? 5000

Yearly growth rate? 0.16

Yearly withdraw amount? 0

Desired balance? 1000000

Years: 36

Balance at end: 1.04582e+06

Amount withdrawn over period: 0

Explanation / Answer

import java.util.Scanner;

public class Driver
{
  
    public static void main(String[] args)
    {
  
       Scanner sc=new Scanner(System.in);
       
          System.out.println("Initial investment? ");
         Double investment = sc.nextDouble();
         System.out.println("Yearly growth rate? ");
         Double rate = sc.nextDouble();
         System.out.println("Yearly withdraw amount? ");
         Double withdraw = sc.nextDouble();
         System.out.println("Desired balance? ");
         Double desiredBalance = sc.nextDouble();

         Double moneyToday, moneyNext, totalWithdrawn = 0.0, endBalance =0.0;
         int years = 0;
         moneyToday = investment;

         while(true)
         {
            years++;
            moneyNext = (1+rate)*moneyToday;

            if(moneyNext > withdraw)
            {
                moneyNext = moneyNext - withdraw;
                totalWithdrawn = totalWithdrawn + withdraw;
            }

            else
            {
                totalWithdrawn = totalWithdrawn + moneyNext;
                break;
            }
       

            endBalance = endBalance + moneyNext;
            moneyToday = moneyNext;

            if(endBalance > desiredBalance)
                break;
            if(endBalance < 0)
                {
                    endBalance = 0.0;
                    break;
                }
         }

         System.out.println("Years: " + years + " Balance at end: " + endBalance + " Amount withdrawn over period: " + totalWithdrawn);

    }
}

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