For this lab you will implement a Java program that uses several different data types and operators.
Start Apache NetBeans.
Create a new project called Lab 3.
Add a java main class called yourlastnameLab3.java with your last name to the project and csci1011.lab3 as the package name
Your program must have the following comments at the top of it
//
// Sample program to calculate the value of a deposit
// after a year of earning interest.
// CSCI 1011 Lab 3
It then should show a welcome message
It then prompts the user to enter an initial deposit amount
It reads the initial deposit value and assigns it into a double variable.
Program then updates the new value of balance by using the following formula:
balance = balance + (balance * 0.049);
Then the program will show a message like:
With a 4.9% APR your deposit will be worth $Y in one year.”
Instead of Y you must show the value of balance variable.
Run the program and test it with sample input. Do this several times.
Modify the program so it uses a named constant in place of 0.049.
Run the program and test it to see if it gives the same values.
Modify the interest rate to 0.059.
Run the program again and test it to see the values it gives have changed.
Did you change the output so it now says 5.9%? If not make that change and run the program again.
Since it would be easier not to have to change the program in two places, declare a new double variable called percent and set its value to 100 times the interest rate.
Modify your output statement so it uses the percent variable instead of 5.9.
Run the program again and test it to make sure it still works properly.
Add some additional statements to compute what the balance will be after a second year of earning interest and display this result along with the original result.
Run the program again and test it to make sure that the new code works.
Here is an output of the program:
Welcome to (your name)’s interest calculator
Please enter your initial deposit amount:
10
With a 5.8999999999999995% APR your deposit will be worth $10.59 in one year.
With a 5.8999999999999995% APR your deposit will be worth $11.21481 in two years.
Upload the file yourlastnameLab3.java to the drop box folder labeled Lab 3.
