Project: Calculating Future Investment Value

1.Problem Description:

Write a program that reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula:

and displays the future investment value using the following formula:

futureInvestmentValue =

investmentAmount * (1 + monthlyInterestRate)^{numberOfYears*12}

For example, if you enter amount 1000, annual interest rate 3.25%, and number of years 1, the future investment value is 1032.98.

Hint: Use the Math.pow(a, b) method to compute a raised to the power of b.

Here is a sample run:

Sample 1:

Enter investment amount: 1000

Enter annual interest rate: 4.25

Enter number of years: 1

Accumulated value is 1043.34

Sample 2:

Enter investment amount: 1000

Enter annual interest rate: 4.25

Enter number of years: 1

Accumulated value is 1043.34

Analysis:

(Describe the problem including input and output)

Design:

(Write Pseudocode Describing the major steps for solving the problem and Draw a flowchart)

Coding: (Copy and Paste Source Code here. )

Testing: (Describe how you test this program)