Question

The First National Bank of Parkville recently opened up a new “So You Want to Be a Millionaire” savings account. The new account works as follows:

• The bank doubles the customer’s balance every year until the customer’s balance reaches one million.
• The customer isn’t allowed to touch the money (no deposits or withdrawals) until the customer’s balance reaches one million. If the customer dies before becoming a millionaire, the bank keeps the customer’s balance.
• Note:Customers close to $1,000,000 tend to get “accidentally” run over in the bank’s parking lot.

Write a java program that prompts the user for a starting balance and then prints the number of years it takes to reach $100,000 and also the number of years it takes to reach $1,000,000.

Sample session:

Enter starting balance: 10000
It takes 4 years to reach $100,000.
It takes 7 years to reach $1,000,000.

Answer 1

/*Java program that prompts user to enter the starting balance and then find a number of years to reach 100000$ and  number of years to reach 1000000$ */
//Millionaire.java
import java.util.Scanner;
public class Millionaire
{
   public static void main(String[] args)
   {
       //create an instance of Scanner class
       Scanner kboard=new Scanner(System.in);
       //declare variables
       double balance=0;
       double amount=0;
       int year=0;
       boolean run=true;
       //set one lack
       final double ONE_LACK=1_000_00;
       //set one million
       final double ONE_MILLION=1_000_000;
      
       System.out.print("Enter starting balance: ");
       //read balance from keyboard
       balance=Double.parseDouble(kboard.nextLine());
       //set balance
       amount=balance;
       //Loop to reach one lack
       while(amount<=ONE_LACK && run )
       {
           //double the amount
           amount=2*amount;
           //increment the year by 1
           year++;
          
           if(amount>=ONE_LACK)
               //set run to false if amount reached 100000
               run=false;
       }
       //print the years to reach one lack dollars
       System.out.println("It takes "+year+" years to reach $"+ONE_LACK);
      
       //Reset year to 0
       year=0;
       //Reset run to true
       run=true;
       //set balance to amount
       amount=balance;
       //Loop to reach one million
       while(amount<=ONE_MILLION && run )
       {
      
           //double the amount
           amount=2*amount;
           //increment the year by 1
           year++;
           //set run to false if amount reached 1000000
           if(amount>=ONE_MILLION)
               run=false;
       }
       //print the years to reach one million dollars
       System.out.println("It takes "+year+" years to reach $"+ONE_MILLION);  
   }
}
--------------------------------------Sample Run#---------------------------------------------------------------