RHS =>  Allan =>  Basic Programming => Exercises => BankAccount Updated:  02/02/2004 23:36
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BankAccount

The Problem
A bank is offering a special account with a special high interest rate per year..

Once the account is made it is not possible to deposit or withdraw money to/from the account.
The account exists for 5 years - then the customer has to withdraw the total amount.

You are to develop a computer program handling the calculation of interest and balance for such an account.

Question 1
Before you start programming the solution discuss in your study group the following questions:

Input: Which data must be read in; i.e. entered by the user?
Declarations: Which classes, data fields and types are needed for the program?
Calculations: Which data must be calculated and how?
Output: Which data must be printed out and how?

The answers to these questions are to be written down on paper. This will give you a pretty good idea on how the program should be structured.

Question 2
You are to create a program, which can handle such a bank account.
You will need a class BankAccount, and a BankAccountApp with the usual main method.
Then, in main, do the usual readings, read in start balance and interest in percent (%) and then call a method in BankAccount which in table form print out: term number, primo balance, interest and ultimo balance for each term.

Write the program, compile, run it with the following input:

  Start balance Interest in %  
  1000 10.0  

 

 

The oputput should look something like:

  Term number  Primo      Interest   Ultimo  
  1 1000 100 1100  
  2 1100 110 1210  
  3 1210 121 1331  
  4 1331   133.1   1464.1  
  5   1464.1    146.41    1610.51  

Question 3
Change the program so it also reads in a tax percentage and instead print out in table form: term number, primo balance, interest, netto interest and ultimo balance for each term (netto interest is interst minus tax).

Question 4   Optional
Change the program so it stops not after a specific number of terms but when the balance exceeds twice the start balance!