One large chemical company sells its chemical equipment at the following rates:
Equipment Code Description Price
RQ1 Reactor 0.5KL GMP $1500
RQ2 Reactor 20 KL Non GMP $3000
The company pays its salespeople on a commission basis. The salespersons receive the basic pay of $ 2000 per
month plus a percentage of their gross sales for that month as follows.
Total number of units Sold (RQ1+RQ2) Percentage commission
1 to50 9%
51 to 100 18%
Above 100 25%
The company also has a savings plan for the sales persons. The salespersons have a choice to invest their
commission in the plan. If a person invests in a savings plan, it yields 8 percent interest. Assuming that all interest is
left on deposit in the savings plan account, calculate and print the amount of money in the savings plan account at
the end of each year for 5 years. Use the following formula to determine these amounts:
p is the original amount invested,
r is the annual interest rate,
n is the number of years,
a is the amount on deposit at the end of the nth year.
Write a program that takes as input the number of units of each type sold by the sales persons and calculates the
commission. The program also gives the option to input the sales person’s desire to invest in the savings plan. The
program should calculate and display the total sales amount, the commission and amount accumulated in the
savings plan after 5 years. The program should interact with the user as follows.
Use scanner object to take inputs and displays the output using system.out.println ()