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Exercise_2_15.java
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Exercise_2_15.java
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import java.util.Scanner;
public class Exercise_2_15{
public static void main (String[] args){
/**I call upon the mighty formula A = P(1 + (r/n))^(nt) because there is no way
in Hades I am coding all that hot mess for six months. Algebra 2 taught me better than that.
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year **/
Scanner userInput = new Scanner(System.in);
System.out.println("Enter the initial amount you borrow or deposit: ");
double P = userInput.nextDouble();
System.out.println("Enter the annual rate of interest as a decimal: ");
double r = userInput.nextDouble();
System.out.println("Enter the number of years: ");
double t = userInput.nextDouble();
double n = 12.0; //we know it's monthly
double accountBalance = P * Math.pow((1 + (r / n)), (n * t));
accountBalance = (int)(accountBalance * 100) / 100;
System.out.println("Your account balance after " + t + " years is $" + accountBalance);
}
}