Create class SavingsAccount. Usea static variable annualInterestRate to store the annual interest rate for all account holders. Each object of the class contains a private instance variable savingsBalance indicating the amount the saver currently has ondeposit. Provide method calculateMonthlyInterest to calculate the monthly www.oumstudents.tk interest by multiplying the savingsBalance by annualInterestRate divided by 12 this interest should be added to savingsBalance. Provide a static method modifyInterestRate that sets the annualInterestRate to a new value. Write a program to test class SavingsAccount. Instantiate two savingsAccount objects, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set annualInterestRate to 4%, then calculate the monthly interest and print the new balances for both savers. Then set the annualInterestRate to 5%, calculate the next month’s interest and print the new balances for both savers.

Create class SavingsAccount. Usea static variable annualInterestRate to store the annual interest rate for all account holders. Each object of the class contains a private instance variable savingsBalance indicating the amount the saver currently has ondeposit. Provide method calculateMonthlyInterest to calculate the monthly www.oumstudents.tk interest by multiplying the savingsBalance by annualInterestRate divided by 12 this interest should be added to savingsBalance. Provide a static method modifyInterestRate that sets the annualInterestRate to a new value. Write a program to test class SavingsAccount. Instantiate two savingsAccount objects, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set annualInterestRate to 4%, then calculate the monthly interest and print the new balances for both savers. Then set the annualInterestRate to 5%, calculate the next month’s interest and print the new balances for both savers.

EBK JAVA PROGRAMMING

9th Edition

ISBN:9781337671385

Author:FARRELL

Publisher:FARRELL

Chapter10: Introduction To Inheritance

Section: Chapter Questions

Problem 1GZ

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