In Java

Suppose you save $100 each month into a savings account with the annual interest rate 5%. So, the monthly interest rate is 0.05/12 = 0.00417. After the first month, the value in the account becomes 100 * (1 + 0.00417) = 100.417 After the second month, the value in the account becomes (100 + 100.417) * (1 + 0.00417) = 201.252 After the third month, the value in the account becomes (100 + 201.252) * (1 + 0.00417) = 302.507 and so on. Write a program that prompts the user to enter an amount (e.g., 100), the annual interest rate (e.g., 5), and the number of months (e.g., 6) and displays the amount in the savings account after the given month.

Here are 2 sample runs:

Input the amount: 100 Input the annual interest rate (e.g., 5 for 5%): 5 Input the number of months: 6 The balance after 6 months is $608.81. Input the amount: 200 Input the annual interest rate (e.g., 5 for 5%): 3 Input the number of months: 36 The balance after 36 months is $7542.92.