Fundamentals Of Object-Oriented Programming: Java and IntelliJ - Program: Simple Interest Calculator

This video tutorial explains how to calculate the interest earned on an investment over one year at a rate of 0.035%. It covers setting up variables, prompting user input for the principal amount, performing calculations to determine interest and updated principal, and formatting the output to display results with two decimal places. The tutorial also includes adjustments to ensure the output is clean and formatted correctly.

What is the purpose of the printf statement in the program?

How can the output be formatted to display two decimal places?

What happens when the program is run with a principal amount of 3250?