MITS4002: Object-Oriented Software Development - Investment Value

This assignment from MITS4002 focuses on calculating the future investment value using a Java program. The assignment requires students to understand and implement the formula: futureInvestmentValue = investmentAmount * (1 + monthlyInterestRate) ^ (numberOfYears*12). The problem description outlines the input (investment amount, annual interest rate, and number of years) and the desired output (future investment value). The assignment includes sections for analysis, design, and coding, where students are expected to provide the source code. Screenshots of the program's output are also required, along with a description of the testing process. The document submitted to Moodle must include the problem analysis, program design, Java source code, output screenshot, and testing description. The assignment emphasizes the practical application of programming principles to solve a real-world financial calculation, providing students with hands-on experience in software development and problem-solving. The assignment is provided by a student and is available on Desklib.

MITS4002
OBJECT-ORIENTED SOFTWARE
DEVELOPMENT
Activity 03
Due: Monday Lesson 05
50% deduction for Late Submission within one week
0 mark for Late Submission more than one week
0 mark for duplicated Submission or Shared Work
You will be marked based on your submitted zipped file on Moodle. You are
most welcome to check your file with your lab tutor before your submission.
No excuse will be accepted due to file corruption, absence from lecture or lab
classes where details of lab requirements may be given.
Please make sure that you attend Lecture EVERY WEEK as low
attendance may result in academic penalty or failure of this unit.
Student ID:
Student full name:
Total Points (20 pts):

MITS4002 Activity 03
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MITS4002 Activity 03
Project: Calculating Future Investment Value
Problem Description:
Write a program that reads in investment amount, annual interest rate, and number of years, and
displays the future investment value using the following formula:
and displays the future investment value using the following formula:
futureInvestmentValue =
investmentAmount * (1 + monthlyInterestRate)numberOfYears*12
For example, if you enter amount 1000, annual interest rate 3.25%, and number of years 1, the
future investment value is 1032.98.
Hint: Use the Math.pow(a, b) method to compute a raised to the power of b.
Here is a sample run:
Sample 1:
Enter investment amount: 1000
Enter annual interest rate: 4.25
Enter number of years: 1
Accumulated value is 1043.34
Sample 2:
Enter investment amount: 1000
Enter annual interest rate: 4.25
Enter number of years: 1
Accumulated value is 1043.34
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