Java Program: Problem 8: Account Management System Suppose there is an account management system which follows the rules described below. You have to implement all the classes and the necessary methods to fulfill the constraints of each account. SavingsAccount, BasicAccount inherit Account class. a) An account holder can deposit or withdraw different amounts from a SavingsAccount and pay an interest rate 0f 1.5% during withdrawal. A SavingsAccount can charge a fee if the balance falls below a certain amount. b) An account holder using a BasicAccount pays 0.5% during withdrawal and has only 3 free transactions. Transaction includes both deposit and withdrawal of money. A BasicAccount can charge a fee if the number of transactions exceeds the specified number of transactions. The required variables for different classes are given. All these variables are private. You can add any variable if you need. Class Name Variables Account accountNumber: int (protected) holderName: String (public) balance: double (protected) void deposit (double amount) void withdraw (double amount) SavingsAccount minimumBalanceWithoutFee : double feeForLowBalance : double void deposit (double amount) void withdraw (double amount) BasicAccount totalNumberOfTransactions: int extraTranasctionFee: double void deposit (double amount) void withdraw (double amount) Finally write a main function: create different SavingsAccount and BasicAccount objects. Then check the functionalities of deposit and withdraw of different amounts.

Java Program: Problem 8: Account Management System Suppose there is an account management system which follows the rules described below. You have to implement all the classes and the necessary...

Java Program:

Problem 8: Account Management System

Suppose there is an account management system which follows the rules described below. You have to implement all the classes and the necessary methods to fulfill the constraints of each account.

SavingsAccount,
BasicAccount
inherit
Account
class.

a) An account holder can deposit or withdraw different amounts from a
SavingsAccount
and pay an interest rate 0f 1.5% during withdrawal. A
SavingsAccount
can charge a fee if the balance falls below a certain amount.

b) An account holder using a
BasicAccount
pays 0.5% during withdrawal and has only 3 free transactions. Transaction includes both deposit and withdrawal of money. A
BasicAccount
can charge a fee if the number of transactions exceeds the specified number of transactions.

The required variables for different classes are given. All these variables are private. You can add any variable if you need.

Class Name	Variables
Account	accountNumber: int (protected) holderName: String (public) balance: double (protected) void deposit (double amount) void withdraw (double amount)
SavingsAccount	minimumBalanceWithoutFee : double feeForLowBalance : double void deposit (double amount) void withdraw (double amount)
BasicAccount	totalNumberOfTransactions: int extraTranasctionFee: double void deposit (double amount) void withdraw (double amount)

Finally write a main function: create different SavingsAccount and BasicAccount objects. Then check the functionalities of deposit and withdraw of different amounts.

Jun 09, 2022

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Java Program: Problem 8: Account Management System Suppose there is an account management system which follows the rules described below. You have to implement all the classes and the necessary...

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