Investment Recursion
An investment company guarantees a 2% monthly compounded return on your investment. You want to see how long it takes to reach a total of $500,000 dollars in investment plus return. Write a program that allows the user to enter a continuous monthly investment (Example – $200 every month) or ($600 every month). The program should call a recursive method that returns and displays the total months needed to reach the $500,000 dollar goal.
Example – At the 2% compounded monthly rate, and a $400 continuous monthly investment, the first month the user makes $8 interest and has $408.00 dollars, the second month the user adds $400 and makes $16.16 interest and now has $824.16, the third month the user adds $400 and makes $24.48 in interest and now has $1,248.64 dollars, etc.
Display how many total months it takes the user to reach the $500,000 dollar goal. Remember, the user should be able to input the continuous monthly investment. The rate is always 2% and compounded monthly.
