Question: HELP WITH JAVA CODE!!! COPY PASTE NEEDED Assume that bank account begins with a balance of $100 and earns interest rate of 5%. The interest
HELP WITH JAVA CODE!!! COPY PASTE NEEDED
Assume that bank account begins with a balance of $100 and earns interest rate of 5%. The interest is computed at the end of the year using the following formula. NewBalance = PreviousBalanace * (1 + interest) Write a java class named ComputeInterest to compute and display this account balance at the end of each year for 10 years. Save the file as ComputeInterest.java. Display the information on the console as illustrated.
The output should be:

Balance at the end of year 1 is 105.00 Balance at the end of year 2 is 110.25 Balance at the end of year 3 is 115.76 Balance at the end of year 4 is 121.55 Balance at the end of year 5 is 127.63 Balance at the end of year 6 is 134.01 Balance at the end of year 7 is 140.71 Balance at the end of year 8 is 147.75 Balance at the end of year 9 is 155.13 Balance at the end of year 10 is 162.89
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