Calculating future investment value

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Reference no: EM132411797

MITS4002 - Object-Oriented Software Development

Activity

Project: Calculating Future Investment Value

Problem Description:

Write a program that reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula:

and displays the future investment value using the following formula:

futureInvestmentValue =
investmentAmount * (1 + monthlyInterestRate)numberOfYears*12

For example, if you enter amount 1000, annual interest rate 3.25%, and number of years 1, the future investment value is 1032.98.

Hint: Use the Math.pow(a, b) method to compute a raised to the power of b.

Here is a sample run:

Sample 1:
Enter investment amount: 1000
Enter annual interest rate: 4.25
Enter number of years: 1
Accumulated value is 1043.34

Sample 2:
Enter investment amount: 1000
Enter annual interest rate: 4.25
Enter number of years: 1
Accumulated value is 1043.34

Analysis:(Describe the problem including input and output in your own words.)

Design:(Describe the major steps for solving the problem.)

Coding: (Copy and Paste Source Code here. Format your code using Courier 10pts)

Output screenshot:(Paste your output screenshot here)

Testing: (Describe how you test this program)

Reference no: EM132411797

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