Write a program that takes two numbers from the Java console representing, respe

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 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.

Explanation / Answer

/* package whatever; // don't place package name! */

import java.util.*;
import java.lang.*;
import java.io.*;

class InvestmentCalculator
{

   public static double getFutureValue(int investment,double interestRate,int year)
   {
       return Math.pow(investment*(1+interestRate),year);
   }
   public static void main (String[] args) throws java.lang.Exception
   {
       // your code goes here
       int investment;
       double interestRate;
      
       Scanner a = new Scanner(System.in);
      
       System.out.println("Enter the investment amount : ");
       investment = a.nextInt();
      
       System.out.println("Enter the interest rate : " );
       interestRate = a.nextDouble();
      
       double futureValue = getFutureValue(investment,interestRate,5);
       System.out.println("Future value after 5 years is : "+futureValue);
      
       futureValue = getFutureValue(investment,interestRate,10);
       System.out.println("Future value after 10 years is : "+futureValue);
      
       futureValue = getFutureValue(investment,interestRate,20);
       System.out.println("Future value after 20 years is : "+futureValue);
   }
}

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