Write a program that will calculate the amount of money (Present Value) that you need to deposit into an account today at an annual interest rate of r in order to have a specific amount of money (Future Value) in n years. The formula you will use to calculate the Present Value is the following.
P= F / (1+r)ⁿ

//Import the Scanner class

import java.util.Scanner;

//Class definition

public class FutureValue {

   //main method declaration

   public static void main(String[] args) {

       //Create an object of the Scanner class

       Scanner input = new Scanner(System.in);

       //Prompt the user to enter the future value

       System.out.println("Please enter the future value");

       //Store the user input in a variable

       double futurevalue = input.nextDouble();

       //Prompt the user to enter the annual interest rate

       System.out.println("Please enter the annual interest rate");

       //Store the user input in a variable

       double annualrate = input.nextDouble();

       //Promppt the user to enter the number of years

       System.out.println("Please enter the number of years");

       //Store the user input in a variable

       double numberofyears = input.nextDouble();

       //Now use the given formula to calculate t he amount to store now (present value)

       double presentvalue = futurevalue / Math.pow((1 + annualrate), numberofyears);

       //Display the result

       System.out.println("The present value of money should be " + presentvalue);

   }

}

>> Please enter the future value

100000

>> Please enter the annual interest rate

9

>> Please enter the number of years

2

>> The present value of money should be 1000.0

>> Please enter the future value

2000000

>> Please enter the annual interest rate

4

>> Please enter the number of years

3

>> The present value of money should be 16000.0

The code above has been written in Java. It contains comments explaining every segment of the code. Please go through the comments for explanation. Sample outputs have always been provided.

The actual lines of code have been written in bold-face to distinguish it from the comments.