$($Financial application: compound value$)$ Suppose you save $$100$ each month into a savings account with an annual interest rate of $5\%.$ Thus, the monthly interest rate is $0\mathrm{.}05/12=0\mathrm{.}00417.$ After the first month, the value in the account becomes

$100*(1+0\mathrm{.}00417)=100\mathrm{.}417$

After the second month, the value in the account becomes

$(100+100\mathrm{.}417)*(1+0\mathrm{.}00417)=201\mathrm{.}252$

After the third month, the value in the account becomes

$(100+201\mathrm{.}252)*(1+0\mathrm{.}00417)=302\mathrm{.}507$

and so on$.$

Write a program that prompts the user to enter a monthly saving amount and dis$-$plays the account value after the sixth month.

$--$We are given the interest rate $(5\%)$ and the number of months $(6).$ The third variable is the $ amount which will be input by the user.

P$--$rogram logic:

$$ Get monthly savings amount from the user

$$ Calculate monthly interest: $1+(\mathrm{.}05/12)$

$$ balance $=$ monthly interest $*$ monthly savings amount $($this is the balance after

first month$)$

$$ balance $=($balance $+$ month savings amount$)*$ monthly interest $($this is the

balance after the second month$)$

$$ balance $=($balance $+$ month savings amount$)*$ monthly interest $($this is the

balance after the third month$)$

$\{$Repeat until you have $6$ months$\}$

$$ Print out the balance

REMEMBER: MAKE IT JAVA