Assignment: Calculating Future Investment Value, Efficiently and Inefficiently

Problem Description:

Recall the program that reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula:

and displays the future investment value using the following formula:

futureInvestmentValue =

investmentAmount * (1 + monthlyInterestRate)^{numberOfYears*12}

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

Hint: Use the Math.pow(a, b) method to compute a raised to the power of b.

Here is a sample run:

Sample 1 (user input is in yellow):

Enter investment amount: 1000

Enter annual interest rate: 4.25

Enter number of years: 1

Accumulated value is 1043.34

Sample 2:

Enter investment amount: 30000

Enter annual interest rate: 6.5

Enter number of years: 30

Accumulated value is 209753.94

(If necessary) Re-write the program in O(1), Constant time. Then, write a linear-time O(n) version of the program, where n is the number of years. The output of the calculations should be the same.

Submission instructions:

Submit two java files, one with the constant time, another with the linear time. Also, in comments when you submit the assignment, describe which version is more efficient.

Submit the .java files and comment in Blackboard for this assignment

For my Java programming ll class!