Q1. Create a SavingsAccount class. Use a static data member annualInterestRate to store the annual interest rate for each of the savers. Each member of the class contains a private data member savingsBalance indicating the amount the saver currently has on deposit. Provide member function calculateMonthlyInterest that calculates the monthly interest by multiplying the savings Balance by annualInterestRate divided by 12; this interest should be added to savings Balance. Provide a static member function modifyInterestRate that sets the static annualInterestRate to a new value(initial value should be set to zero). Write a driver program to test class Savings Account. Instantiate two different objects of class Savings Account, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set the annualInterestRate to 3 percent. Then calculate the monthly interest and print the new balances for each of the savers.

Q1. Create a SavingsAccount class. Use a static data member annualInterestRate to store the annual interest rate for each of the savers. Each member of the class contains a private data member savingsBalance indicating the amount the saver currently has on deposit. Provide member function calculateMonthlyInterest that calculates the monthly interest by multiplying the savings Balance by annualInterestRate divided by 12; this interest should be added to savings Balance. Provide a static member function modifyInterestRate that sets the static annualInterestRate to a new value(initial value should be set to zero). Write a driver program to test class Savings Account. Instantiate two different objects of class Savings Account, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set the annualInterestRate to 3 percent. Then calculate the monthly interest and print the new balances for each of the savers.

C++ for Engineers and Scientists

4th Edition

ISBN:9781133187844

Author:Bronson, Gary J.

Publisher:Bronson, Gary J.

Chapter11: Introduction To Classes

Section11.2: Basic Class Functions

Problem 5E

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In today's technology-driven world, computer programming skills are in high demand. The object-oriented programming (OOP) approach is very much useful while designing and maintaining software programs. Object-oriented programming (OOP) is a basic programming paradigm that almost every developer has used at some stage in their career.

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Solve the following question in C programming language

Q1. Create a SavingsAccount class. Use a static data member annualInterestRate to store the
annual interest rate for each of the savers. Each member of the class contains a private data
member savingsBalance indicating the amount the saver currently has on deposit. Provide
member function calculateMonthlyInterest that calculates the monthly interest by
multiplying the savings Balance by annualInterestRate divided by 12; this interest should
be added to savings Balance. Provide a static member function modifyInterestRate that sets
the static annualInterestRate to a new value(initial value should be set to zero).
Write a driver program to test class Savings Account. Instantiate two different objects of
class Savings Account, saver1 and saver2, with balances of $2000.00 and $3000.00,
respectively. Set the annualInterestRate to 3 percent. Then calculate the monthly interest
and print the new balances for each of the savers.

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