In Java please.Enter the code where it says " /* Your code goes here */ ". Suppose we add a fixed amount of money into our bank account at the beginning of every year. Modify the program from this section to show how many years it takes for the balance to double, given the annual contributions and the interest.   import java.util.Scanner; /**    This program computes the time required to double an investment    with an annual contribution. */ public class DoubleInvestment {    public static void main(String[] args)    {       final double RATE = 5;       final double INITIAL_BALANCE = 10000;       final double TARGET = 2 * INITIAL_BALANCE;       Scanner in = new Scanner(System.in);       System.out.print("Annual contribution: ");       double contribution = in.nextDouble();       double balance = INITIAL_BALANCE;       int year = 0;       // TODO: Add annual contribution, but not in year 0       /* Your code goes here */       System.out.println("Year: " + year);       System.out.printf("Balance: %.2f%n", balance);    } }

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
icon
Related questions
Question

In Java please.Enter the code where it says " /* Your code goes here */ ".

Suppose we add a fixed amount of money into our bank account at the beginning of every year. Modify the program from this section to show how many years it takes for the balance to double, given the annual contributions and the interest.

 

import java.util.Scanner;
/**
   This program computes the time required to double an investment
   with an annual contribution.
*/
public class DoubleInvestment
{
   public static void main(String[] args)
   {
      final double RATE = 5;
      final double INITIAL_BALANCE = 10000;
      final double TARGET = 2 * INITIAL_BALANCE;

      Scanner in = new Scanner(System.in);
      System.out.print("Annual contribution: ");
      double contribution = in.nextDouble();

      double balance = INITIAL_BALANCE;
      int year = 0;

      // TODO: Add annual contribution, but not in year 0

      /* Your code goes here */

      System.out.println("Year: " + year);
      System.out.printf("Balance: %.2f%n", balance);
   }
}

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 3 images

Blurred answer
Knowledge Booster
Files and Directory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Database System Concepts
Database System Concepts
Computer Science
ISBN:
9780078022159
Author:
Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:
McGraw-Hill Education
Starting Out with Python (4th Edition)
Starting Out with Python (4th Edition)
Computer Science
ISBN:
9780134444321
Author:
Tony Gaddis
Publisher:
PEARSON
Digital Fundamentals (11th Edition)
Digital Fundamentals (11th Edition)
Computer Science
ISBN:
9780132737968
Author:
Thomas L. Floyd
Publisher:
PEARSON
C How to Program (8th Edition)
C How to Program (8th Edition)
Computer Science
ISBN:
9780133976892
Author:
Paul J. Deitel, Harvey Deitel
Publisher:
PEARSON
Database Systems: Design, Implementation, & Manag…
Database Systems: Design, Implementation, & Manag…
Computer Science
ISBN:
9781337627900
Author:
Carlos Coronel, Steven Morris
Publisher:
Cengage Learning
Programmable Logic Controllers
Programmable Logic Controllers
Computer Science
ISBN:
9780073373843
Author:
Frank D. Petruzella
Publisher:
McGraw-Hill Education