Java: Compute the future investment value at a given interest rate for a specified number of years

Last update on December 21 2024 10:00:02 (UTC/GMT +8 hours)

Compute Future Investment Value

Write a Java method to compute the future investment value at a given interest rate for a specified number of years.

Sample data (Monthly compounded):
Input the investment amount: 1000
Input the rate of interest: 10
Input number of years: 5

Sample Solution:

Java Code:

import java.util.Scanner;
public class Exercise8 {
 
 public static void main(String[] args) {
    Scanner in = new Scanner(System.in); 
    System.out.print("Input the investment amount: ");
 	double investment = in.nextDouble();
 	System.out.print("Input the rate of interest: ");
	double rate = in.nextDouble();
	System.out.print("Input number of years: ");
	int year = in.nextInt();
	
	rate *= 0.01;
	
	System.out.println("Years    FutureValue");
	for(int i = 1; i <= year; i++) {
    	int formatter = 19;
	    if (i >= 10) formatter = 18;
		System.out.printf(i + "%"+formatter+".2f\n", futureInvestmentValue(investment, rate/12, i));
       }
	 }
 
 public static double futureInvestmentValue(double investmentAmount, double monthlyInterestRate, int years) {
		return investmentAmount * Math.pow(1 + monthlyInterestRate, years * 12);
	}
}

Sample Output:

Input the investment amount: 1000                                                                             
Input the rate of interest: 10                                                                                
Input number of years: 5                                                                                      
Years    FutureValue                                                                                          
1            1104.71                                                                                          
2            1220.39                                                                                          
3            1348.18                                                                                          
4            1489.35                                                                                          
5            1645.31

Flowchart:

Java Code Editor:

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