Write a program which calculates the balance of a savings account after the first three months. To do so, first, prompt the user to enter the starting balance as a double; secondly, ask the user to input the interest rate per year. To calculate the interest per month, divide the annual interest rate by 12, then use this value to calculate the interest per month. Calculate the compounded interest and balance for the first three months, and display the values to the user. Example (input in bold): C:\Users\chris\Desktop>java questionl Please enter the starting balance: 1000 Please enter the annual interest rate: 2.5 After one month, you will have:I $1002.08 After two months, you will have: $1004.17 After three months, you will have: $1006.26
Write a program which calculates the balance of a savings account after the first three months. To do so, first, prompt the user to enter the starting balance as a double; secondly, ask the user to input the interest rate per year. To calculate the interest per month, divide the annual interest rate by 12, then use this value to calculate the interest per month. Calculate the compounded interest and balance for the first three months, and display the values to the user. Example (input in bold): C:\Users\chris\Desktop>java questionl Please enter the starting balance: 1000 Please enter the annual interest rate: 2.5 After one month, you will have:I $1002.08 After two months, you will have: $1004.17 After three months, you will have: $1006.26
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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JAVA
Transcribed Image Text:Write a program which calculates the balance of a savings account after the first three months.
To do so, first, prompt the user to enter the starting balance as a double; secondly, ask the user
to input the interest rate per year. To calculate the interest per month, divide the annual
interest rate by 12, then use this value to calculate the interest per month. Calculate the
compounded interest and balance for the first three months, and display the values to the user.
Example (input in bold):
C:\Users\chris\Desktop>java questionl
Please enter the starting balance: 1000
Please enter the annual interest rate: 2.5
After one month, you will have:I $1002.08
After two months, you will have: $1004.17
After three months, you will have: $1006.26
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