SavingDemo is the main class.
BankAccount and SavingsAccount Classes
Design an abstract class named BankAccount to hold the following data for a
▪ Number of deposits this month
▪ Number of withdrawals
▪ Annual interest rate
▪ Monthly service charges
The class should have the following methods:
Next, design a SavingsAccount class that extends the BankAccount class.
The SavingsAccount class should have a status field to represent an
active or inactive account. If the balance of a savings account falls below
$25, it becomes inactive. (The status field could be a boolean variable.)
No more withdrawals can be made until the balance is raised above $25,
at which time the account becomes active again. The savings account
class should have the following methods:
Constructor The constructor should accept arguments for the balance and annual
deposit A method that accepts an argument for the amount of the deposit.
The method should add the argument to the account balance. It
should also increment the variable holding the number of
withdraw A method that accepts an argument for the amount of the
withdrawal. The method should subtract the argument from the
balance. It should also increment the variable holding the number
calcInterest A method that updates the balance by calculating the monthly
interest earned by the account, and adding this interest to the
balance. This is performed by the following formulas:
Monthly Interest Rate = (Annual Interest Rate/12)
Monthly Interest = Balance * Monthly Interest Rate
Balance = Balance + Monthly Interest
monthlyProcess A method that subtracts the monthly service charges from the
balance, calls the calcInterest method, then sets the variables that
hold the number of withdrawals, number of deposits, and monthly
service charges to zero.
withdraw A method that determines whether the account is inactive
before a withdrawal is made. (No withdrawal will be allowed if
the account is not active.) A withdrawal is then made by calling
the superclass version of the method.
deposit A method that determines whether the account is inactive
before a deposit is made. If the account is inactive and the
deposit brings the balance above $25, the account becomes
active again. The deposit is then made by calling the superclass
version of the method.
monthlyProcess Before the superclass method is called, this method checks the
number of withdrawals. If the number of withdrawals for the
month is more than 4, a service charge of $1 for each
withdrawal above 4 is added to the superclass field that holds
the monthly service charges. (Don’t forget to check the account
balance after the service charge is taken. If the balance falls
below $25, the account becomes inactive.)
Sample output in one run: