Java 5.18 Modified Compound Interest Program- Modify the application in Fig 5.6 to use only integers to calculate the compound interest.[Hint: Treat all monetary amounts as integral numbers of pennies. Then break the result into its dollar and cents portions by using the division and remainder operations, respectively. Insert a period between the dollar and cents portion.] Ex. output $100.26

Fig 5.6

public class Modified_Compound_Interest_Program {

public static void main(String[] args) {

double amount; //amount on deposit at end of each year double principal = 1000.0; //initial amount before interest double rate = 0.05; //interest rate

//display headers System.out.printf("%s%20s%n", "Year", "Amount on deposit");

//calculate amount on deposit for each of ten years for (int year = 1; year <= 10; ++year) { //calcualte new amount for specified year amount = principal * Math.pow(1.0 + rate, year);

//display the year and the amount System.out.printf("%4d%,20.2f%n", year, amount); } } } // end of class