java program

Lab $10$: Create a project called Continuallnterest$\_$FirstName$\_$LastName or

Lab$10\_$FirstName$\_$LastName. Remember to include comments describing your program. A key

component of this lab should be comments describing the methods used.

The steps provided are broken down into a bottom$-$up implementation. Methods implemented in

earlier steps will be used in later steps.

First, implement a method that will handle the calculation of the compound interest. This method

will take a double for the principal amount, a double for the interest rate, and an int for the

number of years. This method will return a double for the final amount.

In the body of this method, use the following formula to calculate compound interest:

$A=P(1+r{)}^t$

where $P$ is the principal amount, $r$ is the interest rate, $t$ is the number of years, and $A$ is the final

amount. Be careful about the order of operations in this formula.

Next, implement a method that will handle printing the output to the console with proper

formatting. This method will take an int for the number of years and a double for the final

amount. This method will not return anything. The final amount must be formatted to two

decimal places.

In the main method, declare a Scanner that accepts input from the keyboard. Declare variables

for the principal amount, interest rate, number of years, and final amount. The data types should

match what is expected for the other methods in this program.

Make requests to the user to enter the principal amount, interest rate, and number of years. The

interest rate will be requested as a percent, so make sure this is converted to a decimal before

performing any calculations.

Write a for loop to go through each year of the loan. This loop will start with year $0$ and end with

the year the user input. Within this for loop, do the following:

Call the first method implemented to calculate the final amount. Make sure the principal

amount, interest rate, and the current year $($based on the for loop$)$ are passed into this

method and that the result of calling this method is assigned to the final amount.

Call the second method implemented to print the output to the console. Make sure the

current year and final amount are passed into this method.

Examples:

The following example assumes the user enters an initial value of $200000,$ an interest

rate of $6,$ and a number of elapsed years of $10.$ Keep in mind the rate will be converted

to $0\mathrm{.}06$ for the calculation.

Please enter the principal amount: $200000$

Please enter the interest rate: $6$

Please enter the number of elapsed years: $10$

After $0$ year$($s$),$ the final amount is $$200000\mathrm{.}00.$

After $1$ year$($s$),$ the final amount is $$212000\mathrm{.}00.$

After $2$ year$($s$),$ the final amount is $$224720\mathrm{.}00.$

After $3$ year$($s$),$ the final amount is $$238203\mathrm{.}20.$

After $4$ year$($s$),$ the final amount is $$252495\mathrm{.}39.$

After $5$ year$($s$),$ the final amount is $$267645\mathrm{.}12.$

After $6$ year$($s$),$ the final amount is $$283703\mathrm{.}82.$

After $7$ year$($s$),$ the final amount is $$300726\mathrm{.}05.$

After $8$ year$($s$),$ the final amount is $$318769\mathrm{.}61.$

After $9$ year$($s$),$ the final amount is $$337895\mathrm{.}79.$

After $10$ year$($s$),$ the final amount is $$358169\mathrm{.}54.$

The following example assumes the user enters an initial value of $500000,$ an interest