Database System Concepts
Database System Concepts
7th Edition
ISBN: 9780078022159
Author: Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher: McGraw-Hill Education
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8.6 (Savings Account Class) Create class Savings Account. Use a static variable annualInter-
estRate 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
savings Balance by annualInterestRate divided by 12-this interest should be added to savings-
Balance. Provide a static method modifyInterestRate that sets the annualInterestRate to a new
value. Write a program to test class SavingsAccount. Instantiate two savingsAccount objects, sav-
er1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set annualInterestRate to
4%, then calculate the monthly interest for each of 12 months and print the new balances for both
savers. Next, set the annualInterestRate to 5%, calculate the next month's interest and print the
new balances for both savers.
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Transcribed Image Text:8.6 (Savings Account Class) Create class Savings Account. Use a static variable annualInter- estRate 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 savings Balance by annualInterestRate divided by 12-this interest should be added to savings- Balance. Provide a static method modifyInterestRate that sets the annualInterestRate to a new value. Write a program to test class SavingsAccount. Instantiate two savingsAccount objects, sav- er1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set annualInterestRate to 4%, then calculate the monthly interest for each of 12 months and print the new balances for both savers. Next, set the annualInterestRate to 5%, calculate the next month's interest and print the new balances for both savers.
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