Design and abstract class name BankAccount to hold the following data for a bank

Question

Design and abstract class name BankAccount to hold the following data for a bank acocount:
-Balance
-Number of deposits this month
-Number of withdrawals
-Annual interest rate
-Monthly service charges

The class should have the following methods:
Constructor = The constructor should accept arguments for the balance and annual interest rate.
deposit = A method that ccepts an argument for that amount of the deposit. The method should add the argument to the account balance. It should also increment the variable holding the number of deposits.
withdraw = A method that accepts an argument for the amount of the withdrawal. The method should subtract the argument from the balance. It should also increment the variable holding the number of withdrawals.
calcInterest = A mehtod that updates the balance by calculating the monthly interest earned by the account, and adding this interest to the balance. This is performed by the following formulas:
+Monthly Interest Rate = (Annual Interest Rate/12)
+Monthly Interest = Balance * Monthly INterst Rate
+Balance = Balance + Monthly Interest
monthlyProcess = A method that subtracts the monthly service charges from the balance, calls the calcInterest method, and then sets the variables that hold the number of withdrawals, number of deposits, and monthly service charges to zero.

Next, design a SavingsAccount class that extends the BankAccount class. The SavingsAccount class should have a status field to represent an active or inactive account. If the balance of a savings account falls below $25, it becomes inactive. (The status field could be a boolean variable.) No more withdrawals can be made until the balance is raised above $25, at which time the account becomes active again. The savings account class should have the following methods:
withdraw = A method that determines whether the account is inactive before a withdrawal is made. (No withdrawal will be allowed if the account is not active.) A withdrawal is then made by calling the superclass version of the method.
deposit = A method that determines whether the account is inactive before a deposit is made. If the account is inactive and the deposit brings the balance above $24, the account becomes active again. The deposit is then made by calling the superclass version of the method.
monthlyProcess = Before the superclass method is called, this method checks the number of withdrawals. If the number of withdrawals for the month is more than 4, a service charge of $1 for each withdrawal above 4 is added to the superclass field that holds the monthly service charges. (Don't forget to check the account balance after the service charge is taken. If the balance falls below $25, the account becomes inactive.)

Explanation / Answer

Dear,

BankAccount.java

public abstract class BankAccount {

    // data members
    protected double balance;
    protected int numOfDeposits;
    protected int numOfWithdrawals;
    protected double interestRate;
    protected double serviceCharge;

    // 2-argument constructor
    public BankAccount(double bal, double intRate) {
        balance = bal;
        interestRate = intRate;
    }

    // Deposits amount into the account
    public void deposit(double amount) {
        balance += amount;
        numOfDeposits++;
    }

    // Withdrawals amount from the account
    public void withdraw(double amount) {
        balance -= amount;
        numOfWithdrawals++;
    }

    // Calculates monthly interest and adds it to the main balance
    public void calcInterest() {
        double monthlyInterestRate = interestRate / 12;
        monthlyInterestRate = balance * monthlyInterestRate;
        balance = balance + monthlyInterestRate;
    }

    // less the service charges from the balance
    // and clears number of withdrawals and deposits.
    public void monthlyProcess() {
        balance = balance - serviceCharge;
        calcInterest();
        numOfDeposits = 0;
        numOfWithdrawals = 0;
        serviceCharge = 0;
    }
}

SavingsAccount.java

public class SavingsAccount extends BankAccount {

    // account status
    private boolean status;

    // 2-argument constructor
    // calls base class constructor
    // and sets account status based on balance
    public SavingsAccount(double balance, double interestRate) {
        super(balance, interestRate);
        if (balance < 25)
            status = false;
        else
            status = true;
    }

    // allows withdrawal if the account is active
    // otherwise denies
    public void withdraw(double amount) {
        if (status)
            super.withdraw(amount);
        else
            System.out.println("Account is inactive");
    }

    // deposits amount into the account by calling
    // base class deposit method and sets status
    public void deposit(double amount) {
        super.deposit(amount);
        if (balance > 24)
            status = true;
    }

    // sets service charge based on number of withdrawals
    // and process monthly charges updates account status
    public void monthlyProcess() {
        if (numOfWithdrawals > 4)
            serviceCharge = (numOfWithdrawals - 4);
        super.monthlyProcess();
        if (balance < 25)
            status = false;
    }
}

I hope this would helpful to you...

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