Question

Now create another class named SavingsAccount. This should be a subclass of BankAccount. A SavingsAccount should have an interest rate that is specified in its constructor. Furthermore, there should be a method, addInterest, that deposits interest into account, based on the account balance and interest rate.

Create another subclass of BankAccount named CheckingAccount. A CheckingAccount should keep track of the number of transactions made (deposits and withdrawals). Name this field transactionCount. Also, the set fee for transactions is three dollars, so create a static final field,
TRANSACTION_FEE, that is set to 3.0. Finally, create a method, deductFees, that deducts fees from the account balance based on the number of transactions. This method should reset the transactionCount to zero.

Now make a class BankAccountTest with a main method to test the above classes. Create a SavingsAccount with zero balance, a 1% interest rate, and a name of your choice. Also create a CheckingAccount with a $500 initial balance and a name of your choice. Deposit $1000 into the SavingsAccount. Withdraw $100 from the CheckingAccount. Now transfer $200 from the SavingsAccount to the CheckingAccount. Print out both accounts. Now add interest to theSavingsAccount and deduct fees from the CheckingAccount. Print out both accounts and make sure the balances are as expected.

Answer 1

/*Test java progam for the SavingsAccount and CheckingAccount class.*/
//BankAccountTest.java
public class BankAccountTest
{
   public static void main(String[] args)
   {
       //create an instance of SavingsAccount class
       SavingsAccount savings=new SavingsAccount("SAVINGS", 0, 1);
       //call deposit method
       savings.deposit(500);
      
       //create an instance of CheckingAccount class
       CheckingAccount checkings=new CheckingAccount("CHECKINGS", 500);
       //call withdraw method
       checkings.withdraw(100);
      
       //call withdraw method on savings object
       savings.withdraw(200);
       //call deposit method on savings object
       checkings.deposit(200);
      
       savings.addInterest();
       checkings.deductFees();
      
       //print savings and checking account
       System.out.println("Savings Account");      
       System.out.println("Name: "+savings.getName());
       System.out.println("Balance,$: "+savings.getBalance());
      
       System.out.println("Checkings Account");      
       System.out.println("Name: "+checkings.getName());
       System.out.println("Balance,$: "+checkings.getBalance());
         
   }

}
----------------------------------------------------------------------------------------------------------------------------------------------------
//BankAccount.java
public class BankAccount
{
   private String name;
   private double balance;
  
   //constructor to set name and balance
   public BankAccount(String name, double balance) {
       this.name = name;
       this.balance = balance;
   }

   public String getName() {
       return name;
   }
   public void setName(String name) {
       this.name = name;
   }
  
   public void deposit(double amt)
   {
       this.balance=this.balance+amt;
   }
  
   public void withdraw(double amt)
   {
       this.balance=this.balance-amt;
   }
  
  
   public double getBalance() {
       return balance;
   }
   public void setBalance(double balance) {
       this.balance = balance;
   }
  
}

----------------------------------------------------------------------------------------------------------------------------------------------------

//SavingsAccount.java
public class SavingsAccount extends BankAccount
{
   private double rate;
   public SavingsAccount(String name, double balance,
           double rate)
   {
       super(name, balance);
       this.rate=rate;
   }
  
   public void addInterest()
   {
       double bal=super.getBalance();
       double interest=super.getBalance()*(rate/100);
       setBalance(bal+interest);
   }
}
----------------------------------------------------------------------------------------------------------------------------------------------------

//CheckingAccount.java
public class CheckingAccount extends BankAccount
{
   //set transaction fee
   private static final double TRANSACTION_FEE=3.0;
   private double transactionCount;
  
   /*Constructor that takes name and baalance */
   public CheckingAccount(String name, double balance)
   {
       super(name, balance);
       transactionCount=0;
   }
   //Method that withdraw transaction fee
   //and reset the transaction count to zer0
   public void deductFees()
   {
       if(transactionCount>3)
       {
           super.withdraw(TRANSACTION_FEE);
           transactionCount=0;
       }
   }
  
   public void deposit(double amt)
   {
       super.deposit(amt);
       transactionCount++;
   }
   public void withdraw(double amt)
   {
       super.withdraw(amt);
       transactionCount++;
   }
  
}
----------------------------------------------------------------------------------------------------------------------------------------------------

Sample Output:

Savings Account
Name: SAVINGS
Balance,$: 303.0
Checkings Account
Name: CHECKINGS
Balance,$: 600.0