Question: CSCI 3210 - Advance Java Assignment 1 Instructions: Submit an electronic copy of the assignment (.java) to the Dropbox (ex. ClassName.java, etc.) IMPORTANT: FOLLOW GOOD


CSCI 3210 - Advance Java Assignment 1 Instructions: Submit an electronic copy of the assignment (.java) to the Dropbox (ex. ClassName.java, etc.) IMPORTANT: FOLLOW GOOD PROGRAMMING STYLE CONVENTION FOR NAMING ALL YOUR OBJECTS VARIABLES, ADD COMMENTS ON TOP OF EACH METHOD AND AT TOP OF THE FLLE (SEE EXAMPLE AT THE LAST PAGE) Programming Exercise: (Savings Account Class) Create class Savings,Account. Use a static variable annuallnterestRate 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 calculateMonthlyinterest to calculate the monthly interest by multiplying the savingsBalance by annuallnterestRate divided by 12 -this interest should be added to savings- Balance. Provide a static method modifylnterestRate that sets the annuallnterestRate to a new value. Write a program to test class SavingsAccount. Instantiate two savingsAccount objects, saverl and saver2, with balances of $2000.00 and $3000.00, respectively. Set annuallnterestRate to 4%, then calculate the monthly interest for each of 12 months and print the new balances for both savers. Next, set the annuallnterestRate to 5%, calculate the next twelve months interest and print the new balances for both savers. Output provided below
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
