### Recent Question/Assignment

MITS4002
OBJECT-ORIENTED SOFTWARE DEVELOPMENT
Activity 03
Weightage: 15%
Due date: Sunday Lesson 04 11:59 PM
Late penalty applies on late submission, 10% per day would be deducted
0 mark for LATE Submission more than one week
You will be marked based on your submitted zipped file on Moodle. You are most welcome to check your file with your lab tutor before your submission. No excuse will be accepted due to file corruption, absence from lecture or lab classes where details of lab requirements may be given.
Please make sure that you attend Lecture EVERY WEEK as low attendance may result in academic penalty or failure of this unit.
Student ID:
Student full name:
This assessment item relates to the unit learning outcomes as in the unit descriptors.
This assessment covers the following LOs.
LO1 Demonstrate understanding of classes, constructors, objects, data types and instantiation; Convert data types using wrapper methods and objects.
LO2 Independently analyse customer requirements and design object-oriented programs using scope, inheritance, and other design techniques; Create classes and objects that access variables and modifier keywords. Develop methods using parameters and return values.
LO3 Demonstrate adaptability in building control and loop structures in an object-oriented environment; Demonstrate use of user defined data structures and array manipulation.
Project: Calculating Future Investment Value
Problem Description:
Write a program that reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula:
futureInvestmentValue=investmentAmount×?(1+monthlyInterestRate)?^(numberOfYears × 12)
For example, if you enter an amount of \$1,000, annual interest rate 3.25%, and number of years as 1, the future investment value is \$1,032.98.
Hint:
Convert annual interest rate to monthly rate by dividing it by 12.
Use the Math.pow(a, b) method to compute a raised to the power of b with ease.
Here is a sample run:
Sample 1:
Enter I nvestment amount: 1000
Enter annual interest rate: 4.25
Enter number of years: 1
Accumulated value is \$1,043.34
Design: (Describe the major steps for solving the problem.)
For calculating the futureInvestment value major steps are given below.
Step1: Input
I have chosen the following inputs are
investAmount
annualRate
monthlyRate
years
Step2: Data Validation
I have verified the data for investment amount, annual interest rate, number of years, future invested value. I ran the below given commands and got the outputs.
System.out.println(-Enter investment amount: - +investAmount);
System.out.println(-Enter annual interest rate: - +annualRate);
System.out.println(-Enter number of years: - +years);
System.out.println(-Accumulated value is \$t: - +futureInvestedValue);
Step3: Conversion
I converted the annual interest rate to monthly rate by dividing it by 12.
monthlyRate = annualRate /12/100
Step4: Calculation
I calculated the future investment value using the given formula.
Future Investment Value = Investment Amount × (1+Monthly Interest Rate) ^ (Number Of Years × 12)
futureInvestedValue = investAmount*Math.pow(1+monthlyRate, years * 12);
Step5: Output
For displaying the future investment amount to the user, I used below code.
System.out.println(-Accumulated value is \$t: - +furureInvestedValue)
Coding: (Copy and Paste Source Code here. Format your code using Courier 10pts)
public static void main(String[] args) {
double investAmount = 9567.0;
double annualRate = 7.85;
double monthlyRate = annualRate /12/100;
int years = 1;
System.out.println(-Enter investment amount: -+investAmount);
System.out.println(-Enter anuual interest rate: -+annualRate);
System.out.println(-Enter number of years: -+years);
double futureInvestedValue = investAmount* Math.pow(1 + monthlyRate, years * 12);
System.out.println(-Accumulated value is \$-+ futureInvestedValue);
}
}
Output screenshot: (Paste your output screenshots here. You need to apply the currency and percentage formats as well)
1.
investAmount = 9567.0
annualRate = 7.85%
2.
investAmount = 33000.0
annualRate = 6.55%
3.
. investAmount = 5500.0
annualRate = 8.85%
4.
investAmount = 4500.0
annualRate = 2.85%
5.
investAmount = 5500.0
annualRate = 8.85%
Testing: (Describe how you test this program)
First of all, I have selected the inputs investAmount, annualRate, monthlyRate, years. Then, for data validation I ran commands such as System.out.println(-Enter investment amount: - +investAmount) and got outputs for every inputs. I calculated the future investment value using the given formula. Future Investment Value = Investment Amount × (1+Monthly Interest Rate) ^ (Number Of Years × 12). Before that I converted the annual interest rate to monthly rate by dividing it by 12. For displaying the future investment amount to the user, I used below code.System.out.println(-Accumulated value is \$t: - +furureInvestedValue)
Submit the following items:
Submit this Word document with solution via LMS (you must submit the program regardless of whether it complete or incomplete, correct or incorrect)
You need to take screenshots of five different investment amounts and interest rates.
Format the output correctly.
Marking rubrics for MITS4002 Activity 03