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Java Homework help~!

post #1 of 4
10/29/12 at 7:24am
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Hey all,

Basically I'm at a loss with a particular question in my latest Java assignment. Here's the culprit:
Quote:
An annuity (sometimes called a reverse mortgage) is an account that yields a fixed payment every year until it is depleted.
The present value of the annuity is the amount that you would need to invest at a given interest rate so that the payments can be made.

The present value of an annuity (PVann) at the time of the first deposit can be calculated using the following formula:

PVann = PMT ยท ({[(1 + i)n - 1 - 1] / i } / (1 + i)n - 1 + 1)

where:
PMT: periodic payment
i: periodic interest or compound rate
n: number of payments

What is the present value of an annuity that will pay out $10,000 in each of the next 20 years if the interest rate is 8 percent?
Write a program to calculate the present value of an annuity for these values. Remember that you can use Math.pow(x, y) to calculate xy.

What is your program?

I don't know where to start with the code whatsoever, so any pointers in the right direction, or helping me break down what needs to be done would be great. Thanks~
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post #2 of 4
10/30/12 at 6:39am
It looks like your just taking that equation and using it on a given input and just showing the output, fairly basic. Are you super new to programming?
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post #3 of 4
10/30/12 at 8:05pm
the question asks you to output the PV and gives you the equation so just make a function with the parameters that you need and return a double.

then just answer the questions.
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post #4 of 4
10/30/12 at 9:51pm
If you don't know how to use functions yet, just declare all the pronumerals in the formula as variables then use the Scanner or BufferedReader to read in whatever values you want, plug them into the formula and System.out.println(); the answer...

This is an easy question, not gonna post an answer as you said it's for homework.
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