Question

Suppose you have entered in the post office to deposit an amount. You have seen three

options are there - FIXED DEPOSIT, MONTHLY INCOME SCHEME AND

RECURRING DEPOSIT with different rate of interest and tenure.

Now develop a Menu driven program in Java where user has to enter his/her name,

mobile number and choose any one category from the menu.

‘F’ – for fixed deposit. Rate of interest – for Senior citizen 8% and Non senior citizen

7%.

The formula for future value of FD is: a=p(1+r/n) power nt

Where, A = Total amount earned on maturity

P= Amount invested (User input)

R= Rate of interest

N= Number of times interest is compounding in a year (4 times).

T= Period of investment (User input)

‘M’ – for monthly income scheme. 8% for all citizen.

I=(P x R)/100

MI=(I x T)/(T x 12)

Where,

I =interest amount of a year

P= principle amount (User input)

R= rate of interest

T= time (year). (User input)

MI= monthly income

‘R’ - recurring deposit. 7 % for all citizen.

M=R((1+i) (n-1))/1-(1+i)(-1/3))

Where, M = Maturity value

R = Monthly Instalment (User input)

N = number of quarters (tenure) (User input)

i = Rate of interest/400

After calculation of a particular category print user name, mobile number, category of

investment, maturity value. If user input any other value then program will print wrong

choice and terminate the program.​

Answer 1

Answer:

Godh that’s a lot...

Step-by-step explanation: