Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thanks! Sanchez Construction Loan Co. makes loans of up to $100,000 for construction projects. There are two categories of Loans-those to businesses and those to

image text in transcribed

Thanks!

Sanchez Construction Loan Co. makes loans of up to $100,000 for construction projects. There are two categories of Loans-those to businesses and those to individual applicants. Write an application that tracks all new construction loans. The application must also calculate the total amount owed at the due date (original loan amount + loan fee). The application should Include the following classes: Loan-A public abstract class that Implements the Loan Constants Interface. A Loan Includes a loan number, customer last name, amount of loan, Interest rate, and term. The constructor requires data for each of the fields except Interest rate. Do not allow loan amounts over $100,000. Force any loan term that is not one of the three defined in the Loan Constants class to a short-term. 1-year loan. Create gets and sets for all the Instance fields and a toStrlng() method that displays all the loan data. Loan Constants-A public Interface class. Loan Constants Includes constant values for short-term (1 year), medium-term (3 years), and long-term (5 years) loans. It also contains constants for the company name and the maximum loan amount. Business Loan-A public class that extends Loan. The Business Loan constructor sets the Interest rate to 1 percent over the current prime Interest rate. Personal Loan-A public class that extends Loan. The Personal Loan constructor sets the Interest rate to 2 percent over the current prime Interest rate. Create Loans-An application that creates an array of five Loans. Prompt the user for the current prime Interest rate. Then, In a loop, prompt the user for a loan type and all relevant Information for that loan. Store the created Loan Objects In the array. When data entry is complete, display all the loans. Save the files as Loan.java, LoanConstants.java, BusinessLoan.java, PersonalLoan.java. and CreateLoans.java

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Data Mining

Authors: Pang Ning Tan, Michael Steinbach, Vipin Kumar

1st Edition

ISBN: 321321367, 978-0321321367

More Books

Students also viewed these Databases questions

Question

A 10-column worksheet is a permanent accounting record

Answered: 1 week ago

Question

=+ How well do you think you could do your job?

Answered: 1 week ago