I need to write a programthat reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula: futureInvestmentValue = investmentAmount x (1 + monthlyInterestRate)^numberOfYears*12. For example, if you entered 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.


I didnt have a chance to use the school computer so I was unable to run the program and check for errors. Any help will be gladly appreciated. Thanks in advance.

This post has been edited by NickDMax: 27 May, 2007 - 08:49 PM

Hi, there were few errors which you can see by comparing your code with mine.
This is my code:




Now a little comment to your code:

You have to import java.util.Scanner; in order
Scanner input = new Scanner (System.in); to work.
Instead of System.ini there should be System.in

Once you declare the variables there is no need to do that again.
e.g.

is not going to work.


you use

annualInterestRate is not declared, but rate is therefore rate should be instead of annualInterestRate.

And the last but not least :

number of years is not declared variable, even if you declare it you'll get an error because of the name. So you could declare it like double numbers_of years. But in this case you don't need to because you already have years
so that line should be:


As I said compare your code with mine.

I have to do the same thing but after I get the information I have to print a table that displays future value for the years from 1 to 30, for example:

The amount invested: 10000
Annual interest rate: 9%
Years Future Value
1 1093.8
2 1196.41
3
....
29 13467.25
30 14730.57

This is my method I started but I am stuck after that??

public static double futureInvestmentValue(double investmentAmount, double monthlyInterestRate, int years)

Search this site some more, this has certainly been covered. We even have a definative blog post on it: http://www.dreamincode.net/forums/blog/mar...p?showentry=544

Basically, you need to know the starting amount, the payment, and the interest per payment. With those three things, you just keep eating the principal until it's gone. The real trick is finding a payment size that matches the time you want to be paying off the load.

Good luck.

Hey thanks for showing me that it help me out a little but I am still getting stuck with my method. Its giving me a Java error "reached end of file while parsing". Basically I got the formula but I just need my method to take the formula and add first year total invesment and display it and add second year investment and display it and third year investment and display it and so on.... so this is what I got:

//so I just need my table to look like this table that displays future value for the //years from 1 to 30, for example:
//The amount invested: 10000
//Annual interest rate: 9%
//Years Future Value
//1 1093.8
//2 1196.41
//3
//....
//29 13467.25
//30 14730.57





import java.util.Scanner;

public class Investment
{

public static void main (String [] args)
{
double principal;
double rate;
int years;
double monthlyInterestRate;
double futureValue;

Scanner input=new Scanner(System.in);

System.out.print("Enter the intial investment amount:");
principal=input.nextDouble();

System.out.print("Enter the annual interest rate:");
rate=input.nextDouble();

System.out.print("Enter the number of years:");
years=input.nextInt();

//obtain monthly interest rate
monthlyInterestRate=rate/1200;

futureValue = principal*Math.pow((1+monthlyInterestRate),years*12);
futureValue=(int)(futureValue * 100)/100.0;

System.out.println("The amount invested:" +principal);
System.out.println("Annual interest rate:" +monthlyInterestRate);
// System.out.println("Years"+years"Future Value"+futureValue);

}


//Return the future value for the years from 1 to 30
public static double futureInvestmentValue(double investmentAmount, double monthlyInterestRate, int years)
{
double result;
int years=1;
for(years = 1; years<=30;years++)
{
if(years <= 30)
System.out.print(" "+years);
for (investmentAmount=result;result<=years;result++)
System.out.print(" "+result);

return result;

}

}

This post has been edited by Techboy52: 30 Jan, 2008 - 06:34 PM