Project 3: Future Investment Value

This document outlines a Java programming project focused on calculating the future value of an investment. The project requires creating a method that takes the investment amount, monthly interest rate, and number of years as input and returns the future investment value using a specified formula. The project also includes a test program that prompts the user for the investment amount and interest rate, then displays a table of future values for years 1 to 30. The solution includes input validation for the investment amount and interest rate, along with analysis, design, code, and testing details. The project is submitted as a Word file and a compressed project folder.

Project 3: Computing Future Investment Value
Problem Description:
Write a method that computes future investment value at a
given interest rate for a specified number of years. The
future investment is determined using the following formula:
futureInvestmentValue =
investmentAmount x (1 + monthlyInterestRate)numberOfYears*12
Use the following method header:
public static double futureInvestmentValue(
double investmentAmount, double monthlyInterestRate, int years)
For example, futureInvestmentValue(10000, 0.05/12, 5)
returns 12833.59.
Write a test program that prompts the user to enter the
investment amount (e.g., 1000) and the interest rate (e.g.,
9%) and prints a table that displays future value for the
years from 1 to 30, as shown below:
The amount invested: 1000
Annual interest rate: 9%
Years Future Value
1 1093.80
2 1196.41
...
29 13467.25
30 14730.57
Create appropriate validation method(s) to validate user
input for the investment amount and the interest rate. You
may use the validation method I posted in hands-on labs
folder and modify the method to validate a double instead of
an int.
Analysis:
(Describe the problem including input and output in your own words.)
Design:
1

(Describe the major steps for solving the problem.)
Coding: (Copy and Paste Source Code here. Format your code using Courier New
10pts)
Testing: (Describe how you test this program including screen captures)
Submit the following items:
1. Submit this Word file – rename it project 3 solution file in Bb
2. Submit your project folder in compressed file format in Blackboard
2