Question: Project 1: Problem Description: Write a program in Java that reads in: (i) investment amount x and (ii) number of years z from the

Project 1: Problem Description: Write a program in Java that reads in:

Project 1: Problem Description: Write a program in Java that reads in: (i) investment amount x and (ii) number of years z from the keyboard and calculates the future investment value using the following formula: number Of Months = 2x12 monthlyInterest Rate = futureInvestment Value 1200 = = x(1+ monthlyInterest Rate) number of Months The annual interest rate y depends on the investment amount and the number of years. If the investment is larger than $5000 and the number of year is larger than 3 years, the annual interest rate y = 3%. Otherwise, the annual interest rate y = 2%. The code should output the results as follows: (the underlined parts need to be replaced by the actual value) Code Example: Required Output Your investment amount is the value of x dollars. Your investment duration is the value of z. Your annual interest rate is the value of y. After the value of z years, you can get the future investment value dollars.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Programming Questions!