Question: [Java] Write a method that computes future investment value at a given interest rate for a specified number of years. The future investment is determined
[Java]
Write a method that computes future investment value at a given interest rate for a specified number of years. The future investment is determined using the following formula:
futureInvestmentValue =
investmentAmount x (1 + monthlyInterestRate)numberOfYears*12
Use the following method header:
public static double futureInvestmentValue(
double investmentAmount, double monthlyInterestRate, int years)
For example, futureInvestmentValue(10000, 0.05/12, 5) returns 12833.59.
Write a test program that prompts the user to enter the investment amount (e.g., 1000) and the interest rate (e.g., 9%) and prints a table that displays future value for the years from 1 to 30, as shown below:
The amount invested: 1000
Annual interest rate: 9%
Years Future Value
1 1093.80
2 1196.41
...
29 13467.25
30 14730.57
Analysis:
(Describe the problem including input and output in your own words.)
Design:
(Describe the major steps for solving the problem.)
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