Elementary Programming; Exercise No. 19

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:

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

Solution:

public static void main(String[] args) {
   Scanner s = new Scanner(System.in);
   double investmentAmount, annualInterestRate;
   int numberOfYears;
   double monthlyInterestRate, futureInvestmentValue;

   System.out.print("Enter investment amount:");
   investmentAmount = s.nextDouble();

   System.out.print("Enter annual interest rate in percentage:");
   annualInterestRate = s.nextDouble();

   System.out.print("Enter number of years:");
   numberOfYears = s.nextInt();

   futureInvestmentValue = investmentAmount * Math.pow((1 + annualInterestRate/1200), numberOfYears * 12);

   System.out.print("Accumulated value is $" + futureInvestmentValue);
}