BMIS 209 Programming Assignment 4 Instructions

BMIS 209 programming assignment 4 instructions adapted from deitel de

Create a class called SavingsAccount. Use a static variable called annualInterestRate 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 savingsBalance by annualInterestRate divided by 12 – this interest should be added to savingsBalance. Provide static method setAnnualInterestRate to set the annualInterestRate to a new value. Write an application to test class SavingsAccount. Create three savingsAccount objects, saver1, saver2, and saver3 with balances of $2,000.00, $3,000.00, and 0.00, respectively. Set annualInterestRate to 4%, then calculate the monthly interest and display the new balances for both savers. Then set the annualInterestRate to 5%, calculate the next month’s interest and display the new balances for both savers.

Technical Requirements: Create SavingsAccount class with static variable annualInterestRate and private instance variables savingsBalance (double) and savingsAccountName (string). Create a mutator method to set the savingsAccountName called setSavingsAccountName; it should accept a string argument and return void. Create an accessor method called getSavingsAccountName that takes no arguments and returns a string. Similarly, for savingsBalance, create a mutator setSavingsBalance that takes a double argument and returns void, and an accessor getSavingsBalance that returns a double. Include two constructors: a no-argument constructor initializing savingsBalance to zero and savingsAccountName to an empty string by calling the second constructor; a second constructor that takes a double (savingsBalance) and a string (savingsAccountName) and initializes the respective fields. Implement CalculateMonthlyInterest method to compute interest as (savingsBalance * annualInterestRate / 12) and add it to savingsBalance; it returns void. Create setAnnualInterestRate as a static method accepting a double and returning void. Write PrintSavingsAccount method that displays the savingsBalance, savingsAccountName, and current annualInterestRate. Create a class SavingsAccountTest with Main() method which creates three SavingsAccount objects: saver1 (initial balance $2,000.00, name "Saver_One"), saver2 (initial balance $3,000.00, name "Saver_Two"), and saver3 (default constructor). Set the interest rate to 4%, assign name "Saver_Three" to saver3, set its balance to $50,000, then print details. Call CalculateMonthlyInterest for all, then print details again. Change the interest rate to 5%, and print the final account details.

Paper For Above instruction

The provided assignment aims to develop a comprehensive understanding of object-oriented programming principles through the creation and management of a class representing bank savings accounts. This involves implementing static variables, instance variables, constructors, methods (both mutators and accessors), and applying them in a practical test application. The focus is on modeling a real-world scenario where interest rates apply uniformly across accounts but individual account balances vary, and where interest calculations modify account balances over time.

At the core, the class "SavingsAccount" encapsulates the features of a bank account, including its balance and account name. The static variable "annualInterestRate" allows the program to maintain a uniform interest rate across all instances, which can be adjusted. Each account, represented as an object, maintains a record of its individual balance and account name. The class provides methods to modify these attributes, such as setSavingsAccountName and setSavingsBalance, and to retrieve current values via getSavingsAccountName and getSavingsBalance.

Constructors in the class provide flexibility in object creation. The no-argument constructor initializes the account with default values (zero balance and empty name), while the parameterized constructor allows setting initial balance and name at instantiation. This design fosters versatility in creating account objects with varying initial data.

A crucial method, CalculateMonthlyInterest, computes monthly interest based on the current balance and the annual interest rate, then adds this interest to the balance, reflecting real-world compounding of interest. The static method setAnnualInterestRate permits changing the interest rate across all accounts, reinforcing consistency.

The PrintSavingsAccount method outputs the current account details, including name, balance, and interest rate, providing clarity on account state at various stages of the simulation.

The testing class, SavingsAccountTest, demonstrates the use of the SavingsAccount class by creating three different accounts. It initializes two with specific balances and names, and a third with default values, subsequently assigning values to it. It sets the initial interest rate, performs interest calculations, updates the interest rate, and prints account details after each operation. This sequence models real-world banking operations where interest rates change, and accounts accrue interest over time.

Overall, this assignment encourages mastery of encapsulation, static vs. instance variables, constructor overloading, method creation, and object manipulation, foundational concepts in object-oriented programming with C#. It also illustrates the process of building a small but functional banking application component, emphasizing clarity, correctness, and adherence to good coding practices.

References

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