Java program to display formatted output

Suppose the tuition for a university is $5,000 this year and increases 4.5% every year. Write a program that displays the tuition for the next four years. Display two digits after the decimal point.

public class Q1

{

        public static void main(String args[])

        {

                double fee=5000;

                for(int i=0;i<4;i++)

                {

                        fee=(fee*0.045) + fee;

                        System.out.format("Increased fee for %d year = $%6.2f%n",(i+1),fee);

                }

        }

}