Introduction to Java Programming Comprehensive Version 10th Edition by Y. Daniel Liang Solution manu
Student Name: __________________
Class and Section __________________
Total Points (20 pts) __________________
Due: Jan 31, 2011 before the class
Project: Calculating Future Investment Value
CSCI 1301 Introduction to Programming Principles
Armstrong Atlantic State University
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)
[Copy and Paste Your program here]
Testing: (Describe how you test this program)
Submit the following items:
1. Print this Word file and Submit to me before the class on the due day
2. Compile, Run, and Submit to LiveLab as Exercise02_17 (you must submit the program regardless whether it complete or incomplete, correct or incorrect)
Code Solution:
public class Test {
public static void main(String[] args) {
java.util.Scanner input = new java.util.Scanner(System.in);
// Enter the investment amount
System.out.print(
"Enter the investment amount, for example 120000.95: ");
double investmentAmount = input.nextDouble();
// Enter yearly interest rate
System.out.print("Enter annual interest rate, for example 8.25: ");
double annualInterestRate = input.nextDouble();
// Obtain monthly interest rate
double monthlyInterestRate = annualInterestRate / 1200;
// Enter number of years
System.out.print(
"Enter number of years as an integer, \nfor example 5: ");
int numOfYears = input.nextInt();
double futureValue =
investmentAmount * Math.pow(1 + monthlyInterestRate,
numOfYears * 12);
System.out.print("Future value is " +
(int)(futureValue * 100) / 100.0);
}
}