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yearly interest rate, (represented as a percentage, e.g., a 7% rate is represented by .07). The interest is applied monthly, (i.e., at the end of each month 1/12 of the interest is deposited into the account). public class Bankasseuat, public BankasGOUnt, (double rate) public BankAsGOunt, (double irátBab, double rate) public double getBalanse() public double getiatBate() public void gettatBate(double rate) public void deposit (double amount) public void withdraw(double amount) public void addMenthsintexest () private double balance; private double irtrate/ Suppose a bank offers to its special customers a new type of savings account, called a “Credit Account", that allows the customer to withdraw extra money if needed, so that the account balance is allowed to be negative at some times. These accounts award interest at the end of every month, as long as the balance is positive. If the balance is negative, then the account is charged the monthly interest for the negative amount, plus 0.5%. In addition, any withdrawals to an account with a non-positive balance are charged a fee of $2. Provide the code for this extension class. Be sure to include constructor methods and override the appropriate methods. CODT

yearly interest rate, (represented as a percentage, e.g., a 7% rate is represented by .07). The interest is applied monthly, (i.e., at the end of each month 1/12 of the interest is deposited into the account). public class Bankasseuat, public BankasGOUnt, (double rate) public BankAsGOunt, (double irátBab, double rate) public double getBalanse() public double getiatBate() public void gettatBate(double rate) public void deposit (double amount) public void withdraw(double amount) public void addMenthsintexest () private double balance; private double irtrate/ Suppose a bank offers to its special customers a new type of savings account, called a “Credit Account", that allows the customer to withdraw extra money if needed, so that the account balance is allowed to be negative at some times. These accounts award interest at the end of every month, as long as the balance is positive. If the balance is negative, then the account is charged the monthly interest for the negative amount, plus 0.5%. In addition, any withdrawals to an account with a non-positive balance are charged a fee of $2. Provide the code for this extension class. Be sure to include constructor methods and override the appropriate methods. CODT

Database System Concepts
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
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The `BankAccount` class described below is used to represent a personal savings account with a yearly interest rate (represented as a percentage, e.g., a 7% rate is represented by .07). The interest is applied monthly (i.e., at the end of each month 1/12 of the interest is deposited into the account). ```java public class BankAccount { public BankAccount(double rate) public BankAccount(double initBal, double rate) public double getBalance() public double getIntRate() public void setBalance(double amount) public void deposit(double amount) public void withdraw(double amount) public void addMonthsInterest() private double balance; private double intRate; } ``` Suppose a bank offers to its special customers a new type of savings account, called a "Credit Account", that allows the customer to withdraw extra money if needed, so that the account balance is allowed to be negative at some times. These accounts award interest at the end of every month, as long as the balance is positive. If the balance is negative, then the account is charged the monthly interest for the negative amount, plus 0.5%. In addition, any withdrawals to an account with a non-positive balance are charged a fee of $2. Provide the code for this extension class. Be sure to include constructor methods and override the appropriate methods. **CODE:** ```java class BankAccount { private double intRate; private double balance; public BankAccount(double rate, double initBal) { this.intRate = rate; this.balance = initBal; } public BankAccount(double rate) { this.intRate = rate; } public double getIntRate() { return intRate; } public double getBalance() { return balance; } public void setIntRate(double rate) { this.intRate = rate; } public void setBalance(double amount) { this.balance = amount; } public void deposit(double amount) { balance = balance + amount; } public void withdraw(double amount) { if(balance > amount) { balance = balance - amount; } else { System.out.println("Not sufficient balance"); } } public void addMonthsInterest() { double interest_monthly = (balance * intRate) / 12; balance = balance
Transcribed Image Text:The `BankAccount` class described below is used to represent a personal savings account with a yearly interest rate (represented as a percentage, e.g., a 7% rate is represented by .07). The interest is applied monthly (i.e., at the end of each month 1/12 of the interest is deposited into the account). ```java public class BankAccount { public BankAccount(double rate) public BankAccount(double initBal, double rate) public double getBalance() public double getIntRate() public void setBalance(double amount) public void deposit(double amount) public void withdraw(double amount) public void addMonthsInterest() private double balance; private double intRate; } ``` Suppose a bank offers to its special customers a new type of savings account, called a "Credit Account", that allows the customer to withdraw extra money if needed, so that the account balance is allowed to be negative at some times. These accounts award interest at the end of every month, as long as the balance is positive. If the balance is negative, then the account is charged the monthly interest for the negative amount, plus 0.5%. In addition, any withdrawals to an account with a non-positive balance are charged a fee of $2. Provide the code for this extension class. Be sure to include constructor methods and override the appropriate methods. **CODE:** ```java class BankAccount { private double intRate; private double balance; public BankAccount(double rate, double initBal) { this.intRate = rate; this.balance = initBal; } public BankAccount(double rate) { this.intRate = rate; } public double getIntRate() { return intRate; } public double getBalance() { return balance; } public void setIntRate(double rate) { this.intRate = rate; } public void setBalance(double amount) { this.balance = amount; } public void deposit(double amount) { balance = balance + amount; } public void withdraw(double amount) { if(balance > amount) { balance = balance - amount; } else { System.out.println("Not sufficient balance"); } } public void addMonthsInterest() { double interest_monthly = (balance * intRate) / 12; balance = balance
### Transcription and Explanation #### Code Explanation The image displays Java code snippets for a credit account simulation, focusing on balance calculation with interest. The code is divided into two main parts: a class for handling the credit account logic and a driver class `Main` to execute the operations. #### `CreditAccount` Class 1. **Fields and Methods**: - Handles balance updates by withdrawing amounts and adding monthly interest. - Updates balance differently depending on whether the account balance is positive or negative. 2. **Methods**: - `withdraw(double amount)`: Handles withdrawal operations. - Updates account balance after subtraction or keeps it unchanged if withdrawal exceeds current balance. - `addMonthsInterest()`: Adds interest to the account. - If the balance is positive, calculates interest regularly. - If the balance is negative, a different rate is used to subtract interest. ```java // Code Block 1: Withdraw Method public void withdraw(double amount) { if(this.getBalance() - amount < 0){ ... } else { balance_left = this.getBalance() - amount; this.setBalance(balance_left); } } // Code Block 2: Add Monthly Interest Method public void addMonthsInterest() { if(this.getBalance() >= 0){ ... } else{ ... } } ``` #### `Main` Class (Driver Class) The `Main` class serves as the driver to demonstrate how the `CreditAccount` class is utilized: 1. Initializes a credit account with a balance of 10,000 and an interest rate of 7%. 2. Withdraws $15,000, which is more than the current balance, testing if the code handles overdrafts. 3. Calls `addMonthsInterest()` to test interest application. 4. Prints initial balance, post-withdrawal balance, and balance after applying interest. ```java // Driver Class: Main public class Main { public static void main(String[] args) { CreditAccount creditAccount = new CreditAccount(0.07, 10000); System.out.println("Initial amount : $" + creditAccount.getBalance()); System.out.println("Withdrawing $15000 from this account"); creditAccount.withdraw(15000); System.out.println("Balance after withdrawing : $" + creditAccount.getBalance()); creditAccount.addMonthsInterest(); System.out.println("Balance after adding interest :
Transcribed Image Text:### Transcription and Explanation #### Code Explanation The image displays Java code snippets for a credit account simulation, focusing on balance calculation with interest. The code is divided into two main parts: a class for handling the credit account logic and a driver class `Main` to execute the operations. #### `CreditAccount` Class 1. **Fields and Methods**: - Handles balance updates by withdrawing amounts and adding monthly interest. - Updates balance differently depending on whether the account balance is positive or negative. 2. **Methods**: - `withdraw(double amount)`: Handles withdrawal operations. - Updates account balance after subtraction or keeps it unchanged if withdrawal exceeds current balance. - `addMonthsInterest()`: Adds interest to the account. - If the balance is positive, calculates interest regularly. - If the balance is negative, a different rate is used to subtract interest. ```java // Code Block 1: Withdraw Method public void withdraw(double amount) { if(this.getBalance() - amount < 0){ ... } else { balance_left = this.getBalance() - amount; this.setBalance(balance_left); } } // Code Block 2: Add Monthly Interest Method public void addMonthsInterest() { if(this.getBalance() >= 0){ ... } else{ ... } } ``` #### `Main` Class (Driver Class) The `Main` class serves as the driver to demonstrate how the `CreditAccount` class is utilized: 1. Initializes a credit account with a balance of 10,000 and an interest rate of 7%. 2. Withdraws $15,000, which is more than the current balance, testing if the code handles overdrafts. 3. Calls `addMonthsInterest()` to test interest application. 4. Prints initial balance, post-withdrawal balance, and balance after applying interest. ```java // Driver Class: Main public class Main { public static void main(String[] args) { CreditAccount creditAccount = new CreditAccount(0.07, 10000); System.out.println("Initial amount : $" + creditAccount.getBalance()); System.out.println("Withdrawing $15000 from this account"); creditAccount.withdraw(15000); System.out.println("Balance after withdrawing : $" + creditAccount.getBalance()); creditAccount.addMonthsInterest(); System.out.println("Balance after adding interest :
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