Conditionals: Simple Interest

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Write a program, SimpleInterest_YI.java that uses a while loop to calculate how many years it would take to have at least $1,100 at an interest rate of 1.2% when $1,000 is deposited in a savings bank account. DO NOT USE THE FORMULA.

stack-of-money

Simple interest is money you can earn by initially investing some money (the principal). A percentage (the interest) of the principal is added to the principal, making your initial investment grow!

As part of your program include the calculation done with the formula.

An example of Simple Interest