Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are now working for a bank, and one of your first projects consists of developing an application to manage savings accounts. Create a C++
You are now working for a bank, and one of your first projects consists of developing an application to manage savings accounts.
Create a C++ program that does the following:
- Creates a SavingsAccount class
- Uses a static data member, annualInterestRate, to store the annual interest rate for each of the savers
- Ensures each member of the class contains a private data member, savingsBalance, indicating the amount the saver currently has on deposit
- Develops a member function, calculateMonthlyInterest, to calculate the monthly interest by multiplying the savingsBalance by annualInterestRate divided by 12; this interest should then be added to savingsBalance
- Develops a static member function, modifyInterestRate, that sets the static annualInterestRate to a new value
- Instantiates two different objects of class SavingsAccount, Firstsaver and Secondsaver, with balances of $1000.00 and $2000.00, respectively; set the annualInterestRate to 2 percent
- Calculates the monthly interest and prints the new balances for each of the savers
- Sets the annualInterestRate to 3 percent, calculates the next month's interest, and prints the new balances for each of the savers
Include the proper header and make sure you properly comment your program. Also, make sure you use proper coding conventions.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started