Question

JAVA

Write a program that will accept user input for an initial deposit and a total amount the user wants to have, and will output the number of years it will take to reach his/her goal.

For the basic program, the user will deposit the initial amount in a new account, and then the account will receive interest, compounded MONTHLY, at a rate of 0.5%.

Answer 1

import java.util.Scanner;

public class Goal {
   public static void main(String[] args) {
       Scanner sc = new Scanner(System.in);
       //reading initial deposit
       System.out.println("Enter initial deposit: ");
       double initial = sc.nextDouble();
       //reading target amount
       System.out.println("Enter total amount you want");
       double amount = sc.nextDouble();
       int months = 0;
       //loop until user reaches his target
       while (initial < amount) {
           //adding 5% interest rate
           initial = initial + initial * 0.05;
           months++;
       }
       System.out.println("Years : "+(months/12.0));
   }
}

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