3. (21 points) Write a method that calculates and returns the value of an invest
ID: 3754797 • Letter: 3
Question
3. (21 points) Write a method that calculates and returns the value of an investment after a number of years, assuming that interest is compounded only at the end of each year. Your method will need the following parameters: The initial amount of money invested The interest rate The number of years you will be holding the investment You can use the formula value = investment * (1 + rate)years . You must include a Javadoc comment Name CSCI161-(01,02,03 Homework 03- Page 2 4. (19 points) Write a main method that would go in the same class as the previous method. It should read an initial investment amount and interest rate from the user. Then it should print a two-column table showing the number of years and final value for each year from 1-20. You do not need to include Javadoc comments. You may assume that the Scanner class has already been importedExplanation / Answer
Below is your code. Please let me know if you have any issues: -
public class InvestmentTracker {
/**
* Method to calculate the return value
*
* @param amount
* - Initial Investment
* @param interestRate
* - Rate of Interest
* @param years
* - years invested
* @return total return value
*/
private static double getReturnValue(double amount, double interestRate, int years) {
return amount * Math.pow((1 + (interestRate/100.0)), years);
}
public static void main(String[] args) {
Scanner sc = new Scanner(System.in);
System.out.print("Enter the Investment Amount: ");
double amount = sc.nextDouble();
System.out.print("Enter the interest rate: ");
double intRate = sc.nextDouble();
System.out.println();
System.out.println("Year# Investment Value");
for (int i = 1; i <= 20; i++) {
System.out.println(i+" "+getReturnValue(amount, intRate, i));
}
sc.close();
}
}
Output
Enter the Investment Amount: 20000
Enter the interest rate: 10
Year# Investment Value
1 22000.0
2 24200.000000000004
3 26620.000000000007
4 29282.000000000007
5 32210.20000000001
6 35431.220000000016
7 38974.342000000026
8 42871.77620000003
9 47158.95382000004
10 51874.84920200005
11 57062.33412220005
12 62768.567534420064
13 69045.42428786207
14 75949.96671664828
15 83544.96338831313
16 91899.45972714444
17 101089.40569985891
18 111198.3462698448
19 122318.18089682929
20 134549.99898651222