In Introduction To Java Programming

Exercise 2.21 – Financial Application: Calculate Future Investment Value

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The program below is the solution to Liang’s Introduction to Java Programming (9th Edition) Chapter 2 Exercise 2.21.

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/**<br /> *<br /> * @Author: Aghatise Osazuwa<br /> * Website: www.cscprogrammingtutorials.com<br /> *<br /> * Exercise 2.21 - Financial application: calculate future investment value<br /> *<br /> */ <br /><br />import java.util.Scanner;<br /><br />public class Ex02_21 {<br /><br />    public static void main(String[] args) {<br />        <br />        // Display Program Information<br />        System.out.println("This Program Calculates The Future Investment Value"<br />                + " of Investment.n");<br /><br />        // create Scanner <br />        Scanner input = new Scanner(System.in);<br /><br />        // prompt user to enter details<br />        System.out.println("Enter investment amount:");<br />        double investmentAmount = input.nextDouble();<br />        System.out.println("Enter annual interest rate in percentage:");<br />        double monthlyInterestRate = input.nextDouble();<br />        System.out.println("Enter number of years:");<br />        double numberOfYears = input.nextDouble();<br /><br />        // calculate s using the formula futureInvestmentValue = <br />        // investmentAmount x (1 + monthlyInterestRate)^numberOfYears*12<br />        double futureInvestmentValue =<br />                investmentAmount * Math.pow((1 + (monthlyInterestRate / 1200)), (numberOfYears * 12));<br />        // format futureInvestmentValue to two decimal places<br />        futureInvestmentValue = (int) (futureInvestmentValue * 100) / 100.0;<br /><br />        // display the result<br />        System.out.println("Accumulated value is $" + futureInvestmentValue + "n");<br />    }<br />}<br />

Program outputClick here…

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