Making simple java program | Computer Science homework help

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Project: Computing Future Investment Value


Problem Description:


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 following formula:


futureInvestmentValue =

  investmentAmount x (1 + monthlyInterestRate)numberOfYears*12


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 test 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:


The amount invested: 1000

Annual interest rate: 9%

Years               Future Value

1                   1093.80

2                   1196.41

29                  13467.25

30                  14730.57



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