CityToronto bank provides mortgages for individuals and businesses up to $300,000. Write  a Java console application that keeps track of mortgages and computes the total amount owed at any time (mortgage amount + interest). Design the following classes to implement your application: Mortgage - an abstract class (Mortgage.java) that implements the MortgageConstants interface (MortgageConstants.java). A Mortgage includes the following (choose appropriate data types): - a mortgage number, -customer name, -amount of mortgage, -interest rate, and -term Don't allow mortgage amounts over $300,000. Force any mortgage term that is not defined in the MortgageConstants interface to a short-term, one year loan. Create  a getMortgageInfo method to display all the mortgage data. MortgageConstants - includes constant values for short-term (one year), medium-term (three years) and long-term (5 years) mortgages. It also contains constants for bank name and the maximum mortgage amount. BusinessMortgage (BusinessMortgage.java) - extends Mortgage. Its constructor sets the interest rate to 1% over the current prime rate. PersonalMortgage (PersonalMortgage.java) - extends Mortgage. Its constructor sets the interest rate to 2% over the current prime rate. ProcessMortgage - a main deriver class that create  an array of 3 mortgages. Prompt the user for the current interest rate. Then in a loop prompts the user for a mortgage type  and all relevant information for that mortgage. Store the created Mortgage objects in the array. When data entry is complete, display all mortgages.

Answer rating: 100% (QA)

import javautilScanner MortgageConstants interface interface Mor... View the full answer