(Financial application: calculate future investment value) Write a program that reads in an investment amount, the annual interest rate, and the number of years, and displays the future investment value using the following formula: futurelnvestmentValue = investmentAmount X (1 + monthlylnterestRate)mberOMonths For example, if you enter the amount 1000, an annual interest rate of 4.25%, and the number of years as 1, the future investment value is 1043.33. Here is a sample run:
(Financial application: calculate future investment value) Write a program that reads in an investment amount, the annual interest rate, and the number of years, and displays the future investment value using the following formula: futurelnvestmentValue = investmentAmount X (1 + monthlylnterestRate)mberOMonths For example, if you enter the amount 1000, an annual interest rate of 4.25%, and the number of years as 1, the future investment value is 1043.33. Here is a sample run:
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![### Section 2.19: Financial Application - Calculate Future Investment Value
**Objective:** Write a program that reads in an investment amount, the annual interest rate, and the number of years, and displays the future investment value using the following formula:
\[ \text{futureInvestmentValue} = \text{investmentAmount} \times (1 + \text{monthlyInterestRate})^{\text{numberOfMonths}} \]
#### Example:
For instance, if you enter:
- **Investment Amount:** 1000
- **Annual Interest Rate:** 4.25%
- **Number of Years:** 1
The future investment value will be **1043.33**.
#### Sample Run:
```
Enter investment amount: 1000 [Enter]
Enter annual interest rate: 4.25 [Enter]
Enter number of years: 1 [Enter]
Accumulated value is 1043.33
```
This exercise encourages students to apply programming skills in financial calculations, demonstrating how investment growth can be calculated over time with compound interest.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f1ead4d-f926-4676-8eb1-1367eb76e132%2Fd93b11b6-806c-4508-a9a3-39fd6853c909%2Fjo1697g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:### Section 2.19: Financial Application - Calculate Future Investment Value
**Objective:** Write a program that reads in an investment amount, the annual interest rate, and the number of years, and displays the future investment value using the following formula:
\[ \text{futureInvestmentValue} = \text{investmentAmount} \times (1 + \text{monthlyInterestRate})^{\text{numberOfMonths}} \]
#### Example:
For instance, if you enter:
- **Investment Amount:** 1000
- **Annual Interest Rate:** 4.25%
- **Number of Years:** 1
The future investment value will be **1043.33**.
#### Sample Run:
```
Enter investment amount: 1000 [Enter]
Enter annual interest rate: 4.25 [Enter]
Enter number of years: 1 [Enter]
Accumulated value is 1043.33
```
This exercise encourages students to apply programming skills in financial calculations, demonstrating how investment growth can be calculated over time with compound interest.
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