In Java Programming 8.6 (Savings Account Class) Create class SavingsAccount. Use a static variable annual Inter-estRate to store the annual interest rate for all account holders. Each object of the class contains aprivate instance variable savings Balance indicating the amount the saver currently has on deposit.Provide method calculateMonthlyInterest to calculate the monthly interest by multiplying thesavings Balance by annual InterestRate divided by 12-this interest should be added to savings-Balance. Provide a static method modify Interest Rate that sets the annual InterestRate to a newvalue. Write a program to test class Savings Account. Instantiate two savingsAccount objects, sav-er1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set annual InterestRate to4%, then calculate the monthly interest for each of 12 months and print the new balances for bothsavers. Next, set the annualInterestRate to 5%, calculate the next month's interest and print thenew balances for both savers.

e instance variable savings Balance indicating the amount the saver currently has on deposit. method calculateMonthlyInterest to calculate the monthly interest by multiplying the sBalance by annualInterestRate divided by 12-this interest should be added to savings- e. Provide a static method modify InterestRate that sets the annual InterestRate to a new Write a program to test class Savings Account. Instantiate two savings Account objects, sav- I saver2, with balances of $2000.00 and $3000.00, respectively. Set annual InterestRate to en calculate the monthly interest for each of 12 months and print the new balances for both Next set the annualInterestRate to 5% calculate the next month's interest and print the

e instance variable savings Balance indicating the amount the saver currently has on deposit. method calculateMonthlyInterest to calculate the monthly interest by multiplying the sBalance by annualInterestRate divided by 12-this interest should be added to savings- e. Provide a static method modify InterestRate that sets the annual InterestRate to a new Write a program to test class Savings Account. Instantiate two savings Account objects, sav- I saver2, with balances of $2000.00 and $3000.00, respectively. Set annual InterestRate to en calculate the monthly interest for each of 12 months and print the new balances for both Next set the annualInterestRate to 5% calculate the next month's interest and print the

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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