*2.20 (Financial application: calculate interest) If you know the balance and the annual
percentage interest rate, you can compute the interest on the next monthly payment
using the following formula:
interest = balance * (annualInterestRate/1200)
Write a program that reads the balance and the annual percentage interest rate and
displays the interest for the next month. Here is a sample run:
import java.util.Scanner; public class ProgrammingEx2_20 { public static void main(String[] args) { Scanner input = new Scanner(System.in); System.out.print("Enter balance and interest rate (e.g., 3 for 3%):"); double balance = input.nextDouble(); double annualInterestRate = input.nextDouble(); double interest = balance * (annualInterestRate/1200); System.out.print("The interest is " + interest); } }
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