The program "tries out" various interest rates starting at zero percent. For each interest rate, the amount of dollars must be reset back to the amount in the account at the beginning of the first year.
The way the variable rate is initialized and then immediately
incremented is awkward.
Here is a possibly buggy program that does this in a different way:
class MillionDollarBuggy
{
public static void main( String[] args )
{
double initialAmount = 1000.00 ;
double dollars = 0.0;
double rate;
int year;
rate = 0.0; // Start interest rate at zero
while ( dollars < 1000000 )
{
// compute the dollars after 40 years at the current rate
year = 1 ;
dollars = initialAmount;
while ( year <= 40 )
{
dollars = dollars + dollars*rate ; // add another year's interest
dollars = dollars + 1000 ; // add in this year's contribution
year = year + 1 ;
}
// change to the next rate
rate = rate + 0.001;
}
System.out.println("After 40 years at " + rate*100
+ " percent interest you will have " + dollars + " dollars" );
}
}