Write a method that computes future investment value at a given interest rate for a specified number of years. The future investment is determined using the formula in Programming Exercise 2.21. Use the following method header: public static double fu

 
 
6.7 (Financial application: compute the future  investment value) Write a method that computes future investment value  at a given interest rate for a specified number of years. The future  investment is determined using the formula in Programming Exercise 2.21.  Use the following method header: public static double  futureInvestmentValue(double investmentAmount, double  monthlyInterestRate, int years) For example,  futureInvestmentValue(10000, 0.05/12, 5) returns 12833.59. Write a  program that prompts the user to enter the investment amount (e.g.,  1000) and the interest rate (e.g., 9%) and prints a table that displays  future value for the years from 1 to 30, as shown below. First, truncate  the future value values to two decimals (See Chapter 2). Then use the  System.out.printf() method to format the output (See Chapter 4). 
 
Program name:
  Lab06.java
 
Sample Runs:
The amount invested: 1000
Annual interest rate: 5
Years      Future Value 
1              1051.16 
2             1104.94 
3             1161.47 
4             1220.89 
5             1283.35 
6             1349.01 
7             1418.03 
8             1490.58 
9             1566.84 
10            1647.00 
11            1731.27 
12            1819.84 
13            1912.95 
14            2010.82 
15            2113.70 
16            2221.84 
17            2335.51 
18            2455.00 
19            2580.61 
20            2712.64 
21            2851.42 
22            2997.30 
23            3150.65 
24            3311.84 
25            3481.29 
26            3659.39 
27            3846.62 
28            4043.42 
29            4250.29 
30            4467.74

Don't use plagiarized sources. Get Your Custom Essay on
Write a method that computes future investment value at a given interest rate for a specified number of years. The future investment is determined using the formula in Programming Exercise 2.21. Use the following method header: public static double fu
Just from $13/Page
Order Essay
Calculator

Calculate the price of your paper

Total price:$26
Our features

We've got everything to become your favourite writing service

Need a better grade?
We've got you covered.

Order your paper
error: Content is protected !!
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code SEARCHGO