2. Create a class Account that represents a banking account. The class has attri

Question

2. Create a class Account that represents a banking account. The class has

attributes owner, accountNo and balance. The constructor for the class

requires the name of the owner of the account and the initial deposit for the

account, which will be stored in the balance attribute. A static int variable is

used for accountNo, which is initially set to 12345. Each object of the

class Account is assigned its accountNo by adding 1 to the current value in

the static variable. Therefore, the first account will be assigned 12346 as its

accountNo.

The business rules for objects of class Account are:

An owner name can be changed

No method should allow the balance value to become negative

Only deposits and withdrawals can alter the value stored in balance,

and their amounts must be positive, that is you cannot deposit -

$10.00

Interest is always 5% per annum.

Following the business rules, create methods of deposit, withdrawal,

addInterest and appropriate get and set methods for the class. The toString

should display the accountNo and the balance.

Note: To format the balance so that it prints out with a $ in front of the

amount and to two decimal places, you can use class NumberFormat to do

this. You will need to

a. Firstly make an import declaration

import java.text.NumberFormat;

b. Add the following to your code

NumberFormat formatter =

NumberFormat.getCurrencyInstance ();

c. Call up the method format on the balance

formatter.format (balance);

Write a method called equals that compares two Account objects and

returns true if the objects have the same owner, otherwise the method

returns false.

Write a class TestAccount which creates an array of five different Account

objects, with at least two objects having the same owner values.

Systematically check the functionality of all methods of class Account

including the equals method to find out how many different accounts are

owned by the same person.

3. Using the class Account in question 2, derive two additional account types:

OnLineAccount and SavingsAccount, where OnLineAccount and

SavingsAccount inherit from Account.

In Account, change the visibility of all data to protected. Change the

withdraw method so that it becomes an abstract method. This action will

necessitate you declaring the class as abstract. Deposits should work the

same way in OnLineAccount and SavingsAccount so make sure they cannot

override their parent

Explanation / Answer

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