Starting Out with Java: From Control Structures through Data Structures (4th Edition) (What's New in Computer Science)
4th Edition
ISBN: 9780134787961
Author: Tony Gaddis, Godfrey Muganda
Publisher: PEARSON
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Textbook Question
Chapter 5, Problem 16PC
Present Value
Suppose you want to deposit a certain amount of money into a savings account, and then leave it alone to draw interest for the next 10 years. At the end of 10 years, you would like to have $10,000 in the account. How much do you need to deposit today to make that happen? You can use the following formula, which is known as the present value formula, to find out:
The terms in the formula are as follows:
- P is the present value, or the amount that you need to deposit today.
- F is the future value that you want in the account. (In this case, F is $10,000.)
- r is the annual interest rate.
- n is the number of years that you plan to let the money sit in the account.
Write a method named presentValue that performs this calculation. The method should accept the future value, annual interest rate, and number of years as arguments. It should return the present value, which is the amount that you need to deposit today. Demonstrate the method in a
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Summary
Interest on a credit card's unpaid balance is calculated
using the average daily balance.
Suppose that netBalance is the balance shown in the
bill, payment is the payment made, d1 is the number
of days in the billing cycle, and d2 is the number of
days payment is made before billing cycle.
Then, the average daily balance is:
averageDailyBalance = (netBalance * d1 payme
If the interest rate per month is, say, 0.0152, then the
interest on the unpaid balance is:
interest averageDailyBalance * 0.0152
Instructions
Write a program that accepts as input netBalance,
d1, payment, d2, and interest rate per month (
interestRate).
Interest Rates Savings accounts state an interest rate and a compounding period. If theamount deposited is P, the stated interest rate is r, and interest is compounded m timesper year, then the balance in the account after one year is P⋅(1+rm)m. For instance, if$1000 is deposited at 3% interest compounded quarterly (that is, 4 times per year), thenthe balance after one year is1000⋅(1+.034)4=1000⋅1.00754=$1,030.34.Interest rates with different compounding periods cannot be compared directly.The concept of APY (annual percentage yield) must be used to make the comparison. TheAPY for a stated interest rate r compounded m times per year is defined byAPY=(1+rm)m−1.(The APY is the simple interest rate that yields the same amount of interest after oneyear as the compounded annual rate of interest.) Write a program to compare interestrates offered by two different banks and determine the most favorable interest rate. SeeFig. 4.24.
Complete the function that calculates the sum of the first
n+1 terms of the geometric series
a, ar, ar² ar³, arª ….. arn
Note that the series begins with a and the last term is ar",
in total there are n+1 terms.
1: # complete the function given the
#variables a,r,n and return the value as series_sum.
def sum geometric_series(a,r,n):
# YOUR CODE HERE
return series_sum
print (sum_geometric_series (4.0, 5, 10))
Chapter 5 Solutions
Starting Out with Java: From Control Structures through Data Structures (4th Edition) (What's New in Computer Science)
Ch. 5.1 - Prob. 5.1CPCh. 5.1 - Prob. 5.2CPCh. 5.1 - Prob. 5.3CPCh. 5.1 - What message will the following program display if...Ch. 5.1 - Prob. 5.5CPCh. 5.2 - What is the difference between an argument and a...Ch. 5.2 - Prob. 5.7CPCh. 5.2 - Prob. 5.8CPCh. 5.2 - Prob. 5.9CPCh. 5.2 - What will the following program display? public...
Ch. 5.4 - Prob. 5.11CPCh. 5.4 - Prob. 5.12CPCh. 5.4 - Prob. 5.13CPCh. 5.4 - Prob. 5.14CPCh. 5 - Prob. 1MCCh. 5 - Prob. 2MCCh. 5 - Prob. 3MCCh. 5 - Prob. 4MCCh. 5 - A value that is passed into a method when it is...Ch. 5 - Prob. 6MCCh. 5 - Prob. 7MCCh. 5 - Prob. 8MCCh. 5 - Prob. 9MCCh. 5 - True or False: You terminate a method header with...Ch. 5 - Prob. 11TFCh. 5 - Prob. 12TFCh. 5 - Prob. 13TFCh. 5 - Prob. 14TFCh. 5 - Prob. 15TFCh. 5 - Prob. 16TFCh. 5 - Prob. 17TFCh. 5 - True or False: No two methods in the same program...Ch. 5 - True or False: It is possible for one method to...Ch. 5 - True or False: You must have a return statement in...Ch. 5 - Prob. 1FTECh. 5 - Look at the following method header: public static...Ch. 5 - Prob. 3FTECh. 5 - Prob. 4FTECh. 5 - Prob. 1AWCh. 5 - Here is the code for the displayValue method,...Ch. 5 - Prob. 3AWCh. 5 - What will the following program display? public...Ch. 5 - A program contains the following method...Ch. 5 - Prob. 6AWCh. 5 - Prob. 7AWCh. 5 - Write a method named square that accepts an...Ch. 5 - Write a method named getName that prompts the user...Ch. 5 - Write a method named quartersToDol1ars. The method...Ch. 5 - Prob. 1SACh. 5 - Prob. 2SACh. 5 - What is the difference between an argument and a...Ch. 5 - Where do you declare a parameter variable?Ch. 5 - Prob. 5SACh. 5 - Prob. 6SACh. 5 - Prob. 1PCCh. 5 - Retail Price Calculator Write a program that asks...Ch. 5 - Rectangle AreaComplete the Program If you have...Ch. 5 - Paint Job Estimator A painting company has...Ch. 5 - Prob. 5PCCh. 5 - Celsius Temperature Table The formula for...Ch. 5 - Test Average and Grade Write a program that asks...Ch. 5 - Conversion Program Write a program that asks the...Ch. 5 - Distance TraveLed Modification The distance a...Ch. 5 - Stock Profit The profit from the sale of a stock...Ch. 5 - Multiple Stock Sales Use the method that you wrote...Ch. 5 - Kinetic Energy In physics, an object that is in...Ch. 5 - isPrime Method A prime number is a number that is...Ch. 5 - Prime Number List Use the isPrime method that you...Ch. 5 - Even/Odd Counter You can use the following logic...Ch. 5 - Present Value Suppose you want to deposit a...Ch. 5 - Rock, Paper, Scissors Game Write a program that...Ch. 5 - ESP Game Write a program that tests your ESP...
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