Develop simple program for an individual savings account

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Reference no: EM133548755

1. Develop a simple program for an individual savings account. Create a new project named LabExer3. Set the project location to your own folder. The main class should be named RunSavingsAccount. Then, add another class called SavingsAccount.

2. Start coding the SavingsAccount class.

3. Declare/Initialize variables based on the table below. Data Type Access Level Static? Variable Name Value double private No balance None double public Yes interestRate 0 4. Within the constructor, initialize balance with the value of 0.

5. Declare a static setter method named setInterestRate with a parameter of double type named newRate. This method should assign newRate to interestRate. All methods in the program should be public.

6. Add a static method named getInterestRate and a non-static method named getBalance, where each returns an appropriate variable. Both should of double type.

7. Declare a void method named deposit with a parameter of double type named amount. This method should update balance by adding an amount to it.

8. Add another method of double type named withdraw with a parameter of double type also named as amount. Create an if-else statement based on this condition: If balance is greater than or equal than amount, deduct amount from

Reference no: EM133548755

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