Question: please type out code. sequence of calculation in which at each step the result depends on the previous result *5.30 (Financial application: compound value) Suppose



please type out code. sequence of calculation in which at each step the result depends on the previous result
*5.30 (Financial application: compound value) Suppose you save $100 each month into a savings account with the annual interest rate 5%. Thus, 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 + 0.004:17) = 201.252 After the third month, the value in the account becomes After the third month, the value in the account becomes (100 + 201.252) * (1 + 0.00417) CEE 302.507 and so on. Write a program that prompts the user to enter an amount (e.g., 100.56), the annual interest rate (e.g., 5.25), and the number of months (e.g., 6) then displays the amount in the savings account after the given month. Sample Run for Exercise05_30.java Enter input data for the program (Sample data provided below. You may modify it.) 180.56 5.25 6 Show the Sample Output Using the Preceeding Input Reset Execution Result: JDK&>java Exercise05_30 Enter the amount to be saved for each month: 100.56 Enter the annual interest rate: 5.25 Enter the number of months: 6 After the 6th month, the account value is 612.6666128506797 ODK&>Step by Step Solution
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