Question: Q: Answer the following questions w.r.t JAVA : A) Write a JAVA program to implement the following using abstract class. A Bank gives a simple

Q: Answer the following questions w.r.t JAVA:

A) Write a JAVA program to implement the following using abstract class.

A Bank gives a simple interest of 9.25% per annum for deposits made in the bank. It also gives a compound interest of 8.5% per annum for deposits. A customer would like to choose any one of the scheme depending on his requirement. A customer would like to deposit Rs.25,000 for 5 years.

B) What is the need for an interface in JAVA when we have abstract classes available? Can interfaces be instantiated? Explain with an example.

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