( IN JAVA ) Design an abstract class named BankAccount to hold the following data for a bank account:
Balance - private
Number of deposits this month
Number of withdrawals
Annual interest rate
The class should have the following methods. It is up to you to decide which method becomes abstract.
Constructor: the constructor should accept an argument for the balance and annual interest rate
Deposit: A method that accepts an argument for the amount of the deposit. The method should add the argument to the account balance. It should also increment the variable holding the number of deposits.
Withdraw: A method that accepts an argument for the amount of the withdrawal. The method should subtract the argument from the balance. It should also increment the variable holding the number of withdrawals.
calcInterest: A method that updates the balance by calculating the monthly interest earned by the account and adding this interest to the balance. This is performed by the following formulas:
Monthly interest rate=(annual interest rate/12)
Monthly interst=balance*monthly interest rate
Balance=balance + monthly interest
monthlyProcess: A method that subtracts the monthly service charges from the balance, calls the calcInterest method and then sets the variables that hold the number of withdrawals, number of deposits, and monthly service charges to zero.
Next design a SavingsAccount class that extends the BankAccount class.
The SavingAccount class should have a status field to represent an active or inactive account. If the balance of a savings account falls below $25 it becomes inactive. ( the status field could be a Boolean variable) No more withdrawals may be made until the balance is raised above $25 at which time the account becomes active again.
The savings account class should have the following methods:
withdraw: A method that determines whether the account is inactive before a withdrawal is made. (No withdrawal will be allowed if the account is not active). A withdrawal is then made by calling the superclass version of the method.
deposit: A method that determines whether the account is inactive before a deposit is made. If the account is inactive and the deposit brings the balance above $25, the account becomes active again. A deposit is then made by calling the superclass version of the method.
monthlyProcess: Before the superclass method is called, this method checks the number of withdrawals. If the number of withdrawals for the month is more than 4, a service charge of $1 for each withdrawal above 4 is added to the superclass field that holds the monthly service charges. (Don’t forget to check the account balance after the service charge is taken. If the balance falls below $25 the account becomes inactive.)
Design the Test class and ask user to enter value of class variables through scanner class. Create appropriate object of SavingsAccount class and call the method and print the value of all variables.
Take reference of following sample output to print your output.
When you print information in output window display numeric value using two decimal place. For example 200.50
Sample output: (this is the only one scenario, similar way you can check rest of the condition)
Please enter your Account Balance
500
Please enter the Annual Interest Rate for the account
3
The balance after adding the Monthly Interest=625.00
Please enter the amount you want to withdraw
100
Please enter the amount you want to deposit
250
The savings account is currently active
Balance after withdrawal=525.00
Balance after deposit=775.00
Do you want to make any more withdrawals? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to withdraw
300
The savings account is currently active
Balance after withdrawing=475.00
Do you want to make any more withdrawals? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to withdraw
75
The savings account is currently active
Balance after withdrawing=400.00
Do you want to make any more withdrawals? If yes please enter 1 and if no please enter 0
0
Do you want to make any more deposits? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to deposit
50
Balance after depositing=450.00
Do you want to make any more deposits? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to deposit
50
Balance after depositing=500.00
Do you want to make any more deposits? If yes please enter 1 and if no please enter 0
0
The total number of deposits made = 3
The total number of withdrawals made =3
The total service charge of the month is 0
The savings account is currently active
( add a side funtionality to ask the user to wether he would like to pay extra on his account for an overdraft monthly )
Use Internal Standard document for commenting and name convention rule. Program is stored in an appropriately named file
Program has the proper header information including your name and program
Program compiles successfully and without warnings
Program is complete and produces correct results
Program uses appropriate indentation to show logical path flows
Program has proper commenting
( IN JAVA ) Design an abstract class named BankAccount to hold the following data for a bank account:
Balance - private
Number of deposits this month
Number of withdrawals
Annual interest rate
The class should have the following methods. It is up to you to decide which method becomes abstract.
Constructor: the constructor should accept an argument for the balance and annual interest rate
Deposit: A method that accepts an argument for the amount of the deposit. The method should add the argument to the account balance. It should also increment the variable holding the number of deposits.
Withdraw: A method that accepts an argument for the amount of the withdrawal. The method should subtract the argument from the balance. It should also increment the variable holding the number of withdrawals.
calcInterest: A method that updates the balance by calculating the monthly interest earned by the account and adding this interest to the balance. This is performed by the following formulas:
Monthly interest rate=(annual interest rate/12)
Monthly interst=balance*monthly interest rate
Balance=balance + monthly interest
monthlyProcess: A method that subtracts the monthly service charges from the balance, calls the calcInterest method and then sets the variables that hold the number of withdrawals, number of deposits, and monthly service charges to zero.
Next design a SavingsAccount class that extends the BankAccount class.
The SavingAccount class should have a status field to represent an active or inactive account. If the balance of a savings account falls below $25 it becomes inactive. ( the status field could be a Boolean variable) No more withdrawals may be made until the balance is raised above $25 at which time the account becomes active again.
The savings account class should have the following methods:
withdraw: A method that determines whether the account is inactive before a withdrawal is made. (No withdrawal will be allowed if the account is not active). A withdrawal is then made by calling the superclass version of the method.
deposit: A method that determines whether the account is inactive before a deposit is made. If the account is inactive and the deposit brings the balance above $25, the account becomes active again. A deposit is then made by calling the superclass version of the method.
monthlyProcess: Before the superclass method is called, this method checks the number of withdrawals. If the number of withdrawals for the month is more than 4, a service charge of $1 for each withdrawal above 4 is added to the superclass field that holds the monthly service charges. (Don’t forget to check the account balance after the service charge is taken. If the balance falls below $25 the account becomes inactive.)
Design the Test class and ask user to enter value of class variables through scanner class. Create appropriate object of SavingsAccount class and call the method and print the value of all variables.
Take reference of following sample output to print your output.
When you print information in output window display numeric value using two decimal place. For example 200.50
Sample output: (this is the only one scenario, similar way you can check rest of the condition)
Please enter your Account Balance
500
Please enter the Annual Interest Rate for the account
3
The balance after adding the Monthly Interest=625.00
Please enter the amount you want to withdraw
100
Please enter the amount you want to deposit
250
The savings account is currently active
Balance after withdrawal=525.00
Balance after deposit=775.00
Do you want to make any more withdrawals? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to withdraw
300
The savings account is currently active
Balance after withdrawing=475.00
Do you want to make any more withdrawals? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to withdraw
75
The savings account is currently active
Balance after withdrawing=400.00
Do you want to make any more withdrawals? If yes please enter 1 and if no please enter 0
0
Do you want to make any more deposits? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to deposit
50
Balance after depositing=450.00
Do you want to make any more deposits? If yes please enter 1 and if no please enter 0
1
Please enter the amount you want to deposit
50
Balance after depositing=500.00
Do you want to make any more deposits? If yes please enter 1 and if no please enter 0
0
The total number of deposits made = 3
The total number of withdrawals made =3
The total service charge of the month is 0
The savings account is currently active
( add a side funtionality to ask the user to wether he would like to pay extra on his account for an overdraft monthly )
Use Internal Standard document for commenting and name convention rule. Program is stored in an appropriately named file
Program has the proper header information including your name and program
Program compiles successfully and without warnings
Program is complete and produces correct results
Program uses appropriate indentation to show logical path flows
Program has proper commenting
