Question: 8 . 6 ( Savings Account Class ) Create class SavingsAccount. Use a static variable annualinterestRate to store the annual interest rate for all account
Savings Account Class Create class SavingsAccount. Use a 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 on deposit. Provide method calculatemonthly Interest to calculate the
monthly interest by multiplying the savingsBalance by annualinterestRate divided by
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, saver and
saver with balances of $ and $ respectively. Set annualinterestRate to
then calculate the monthly interest for each of months and print the new balances for both
savers. Next, set the annualinterestRate to calculate the next month's interest and print
the new balances for both savers.
Grade rubric:
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
