Project: Calculating Future Investment Value
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
Design:
(Describe the major steps for solving the problem.)
Coding:
(Copy and Paste Source Code here. Format your code using Courier 10pts)
Output screenshot:
(Paste your output screenshot here)
Testing:
(Describe how you test this program)
MITS4002 Research Study MITS4002 OBJECT-ORIENTED SOFTWARE DEVELOPMENT Activity 03 Weightage: 5% Late penalty applies on late submission, 10% per day would be deducted 0 mark for LATE Submission more than one week 0 mark for DUPLICATED Submission or Shared Work You will be marked based on your submitted zipped file on Moodle. You are most welcome to check your file with your lab tutor before your submission. No excuse will be accepted due to file corruption, absence from lecture or lab classes where details of lab requirements may be given. Please make sure that you attend Lecture EVERY WEEK as low attendance may result in academic penalty or failure of this unit. Student ID: Student full name: MITS4002 Activity 03 Page 2 This assessment item relates to the unit learning outcomes as in the unit descriptors. This checks your understanding about object-oriented software development. This assessment covers the following LOs. LO1 Demonstrate understanding of classes, constructors, objects, data types and instantiation; Convert data types using wrapper methods and objects LO2 Independently analyse customer requirements and design object-oriented programs using scope, inheritance, and other design techniques; Create classes and objects that access variables and modifier keywords. Develop methods using parameters and return values LO3 Demonstrate adaptability in building control and loop structures in an object-oriented environment; Demonstrate use of user defined data structures and array manipulation Rubrics for MITS4002 Activity 03 Criteria (used as a guide only) Level of Performance 0 1 2 3 Design/Analysis Coding; Indentation; Comments Output screenshots; Correct answer; Currency/Percentage formatting 1 single WORD document as requested Evidence of testing and debugging Total: 15/marks (scale to 5) Project: Calculating Future Investment Value 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 Design: (Describe the major steps for solving the problem.) Coding: (Copy and Paste Source Code here. Format your code using Courier 10pts) Output screenshot: (Paste your output screenshot here) Testing: (Describe how you test this program) Submit the following items: 1. This Word document to Moodle (you must submit the program regardless whether it complete or incomplete, correct or incorrect)