Question

Design a class named Account that contains:
■ A private int data field named id for the account (default 0).
■ A private double data field named balance for the account (default 0).
■ A private double data field named annualInterestRate that stores the current
interest rate (default 0). Assume all accounts have the same interest rate.
■ A private Date data field named dateCreated that stores the date when the account was
created.
■ A no-arg constructor that creates a default account.
■ A constructor that creates an account with the specified id and initial balance.
■ The accessor and mutator methods for id, balance, and annualInterestRate.
■ The accessor method for dateCreated.
■ A method named getMonthlyInterestRate() that returns the monthly interest rate.
■ A method named getMonthlyInterest() that returns the monthly interest.
■ A method named withdraw that withdraws a specified amount from the account.
■ A method named deposit that deposits a specified amount to the account.
Implement the class in Java as required by the design above. (Hint: The method getMonthlyInterest() is to return monthly interest, not the interest rate. Monthly interest is balance * monthlyInterestRate and monthlyInterestRate is annualInterestRate / 12. Note that annualInterestRate is a percentage, e.g., like 4.5%. You need to divide it by 100.)
Write a test program that creates an Account object with an account ID of 1122, a balance of $20,000, and an annual interest rate of 4.5%. Use the withdraw method to withdraw $2,500, use the deposit method to deposit $3,000, and print the balance, the monthly interest, and the date when this account was created.

PLEASE DO THE QUESTION IN A SIMPLER WAY

Answer 1

Thanks for the question. Below is the code you will be needing. Let me know if you have any doubts or if you need anything to change. 

If you are satisfied with the solution, please leave a +ve feedback : ) Let me know for any help with any other questions.

Thank You!
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import java.util.Date;

public class Account {

    private int id;
    private double balance;
    private double annualInterestRate;
    private Date dateCreated;

    // A no-arg constructor that creates a default account.
    public Account() {

        id = 0;
        balance = 0;
        annualInterestRate = 0;
        dateCreated = new Date();
    }

    //A constructor that creates an account with the specified id and initial balance.
    public Account(int id, double balance) {
        this.id = id;
        this.balance = balance;
        annualInterestRate = 0;
        dateCreated = new Date();

    }

    public int getId() {
        return id;
    }

    public double getBalance() {
        return balance;
    }

    public double getAnnualInterestRate() {
        return annualInterestRate;
    }

    public Date getDateCreated() {
        return dateCreated;
    }

    public void setId(int id) {
        this.id = id;
    }

    public void setAnnualInterestRate(double annualInterestRate) {
        this.annualInterestRate = annualInterestRate;
    }

    public void setBalance(double balance) {
        this.balance = balance;
    }

    public double getMonthlyInterestRate() {
        return annualInterestRate / 12;
    }

    public double getMonthlyInterest() {
        return balance * getMonthlyInterestRate() / 100;
    }

    public void deposit(double amount) {
        if (amount > 0) balance += amount;
    }

    public void withdraw(double amount) {
        if (amount > 0 && amount <= balance) balance -= amount;
    }

}

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public class TestProgram{

    public static void main(String[] args) {

        Account account = new Account(1122,20000);
        account.setAnnualInterestRate(4.5);
        System.out.println("account.getBalance() = " + account.getBalance());
        System.out.println("account.getMonthlyInterest() = $" + account.getMonthlyInterest());

        System.out.println("\nWithdrawing $2,500 from balance ...\n");
        account.withdraw(2500);
        System.out.println("account.getBalance() = " + account.getBalance());
        System.out.println("account.getMonthlyInterest() = $" + account.getMonthlyInterest());

        System.out.println("\nDepositing $3,000 amount ...\n");
        account.deposit(3000);
        System.out.println("account.getBalance() = " + account.getBalance());
        System.out.println("account.getMonthlyInterest() = $" + account.getMonthlyInterest());



    }
}

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