Database System Concepts
Database System Concepts
7th Edition
ISBN: 9780078022159
Author: Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher: McGraw-Hill Education
Bartleby Related Questions Icon

Related questions

Question

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

while(balance< TARGET) {


year++;


double interest = balance*(RATE/100);
balance = (balance+contribution+interest);
}

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

 

 

Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
Database System Concepts
Computer Science
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:McGraw-Hill Education
Text book image
Starting Out with Python (4th Edition)
Computer Science
ISBN:9780134444321
Author:Tony Gaddis
Publisher:PEARSON
Text book image
Digital Fundamentals (11th Edition)
Computer Science
ISBN:9780132737968
Author:Thomas L. Floyd
Publisher:PEARSON
Text book image
C How to Program (8th Edition)
Computer Science
ISBN:9780133976892
Author:Paul J. Deitel, Harvey Deitel
Publisher:PEARSON
Text book image
Database Systems: Design, Implementation, & Manag...
Computer Science
ISBN:9781337627900
Author:Carlos Coronel, Steven Morris
Publisher:Cengage Learning
Text book image
Programmable Logic Controllers
Computer Science
ISBN:9780073373843
Author:Frank D. Petruzella
Publisher:McGraw-Hill Education