Create a class that will bundle together several static methods for interest calculations. This class should not have a constructor. Its attributes are • principal—as a static double variable that starts at $10000 • rate—as a static double variable that starts at 7% Its methods are • calculateSimpleInterest(time)—a static method that returns the amount calculated with the simple interest formula, rounded to the nearest penny. • computeCompoundInterest(time)—a static method that returns the amount calculated with the compound interest formula, rounded to the nearest penny.
Create a class that will bundle together several static methods for interest
calculations. This class should not have a constructor. Its attributes are
• principal—as a static double variable that starts at $10000
• rate—as a static double variable that starts at 7%
Its methods are
• calculateSimpleInterest(time)—a static method that returns the
amount calculated with the simple interest formula, rounded to the
nearest penny.
• computeCompoundInterest(time)—a static method that returns the
amount calculated with the compound interest formula, rounded to the
nearest penny.
• changePrincipalTo(newPrincipal)—a static method that changes the
value of the principal.
• changeRateTo(newRate)—a static method that changes the value of the
rate.
• roundToNearestPenny(amount)—a private static method that returns
the given amount rounded to the nearest penny. For example, if the
amount is 1023.659, the method will return 1023.66.
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