Tuesday, October 4, 2016

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Exercise 2.21 - Financial Application: Calculate Future Investment Value

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

/**
 *
 * @Author: Aghatise Osazuwa
 * Website: www.cscprogrammingtutorials.com
 *
 * Exercise 2.21 - Financial application: calculate future investment value
 *
 */ 

import java.util.Scanner;

public class Ex02_21 {

    public static void main(String[] args) {
        
        // Display Program Information
        System.out.println("This Program Calculates The Future Investment Value"
                + " of Investment.\n");

        // create Scanner 
        Scanner input = new Scanner(System.in);

        // prompt user to enter details
        System.out.println("Enter investment amount:");
        double investmentAmount = input.nextDouble();
        System.out.println("Enter annual interest rate in percentage:");
        double monthlyInterestRate = input.nextDouble();
        System.out.println("Enter number of years:");
        double numberOfYears = input.nextDouble();

        // calculate s using the formula futureInvestmentValue = 
        // investmentAmount x (1 + monthlyInterestRate)^numberOfYears*12
        double futureInvestmentValue =
                investmentAmount * Math.pow((1 + (monthlyInterestRate / 1200)), (numberOfYears * 12));
        // format futureInvestmentValue to two decimal places
        futureInvestmentValue = (int) (futureInvestmentValue * 100) / 100.0;

        // display the result
        System.out.println("Accumulated value is $" + futureInvestmentValue + "\n");
    }
}
Ex02.21 - Liang introduction to Java programming
Program output
Click here to see other solutions to Introduction to Java Programming.

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