Programming Assignment 4 Instructions
Adapted from: Deitel & Deitel (2017). Visual C# 2015 How to Program (6th ed.). Pearson Education, Inc.
Create a class called Savings Account. Use a static variable called annualInterestRate to store the annual interest rate for all account holders. Each object of the class contains a private instance variable savingsBalance, indicating the amount the saver currently has on deposit. Provide method CalculateMonthlyInterest to calculate the monthly interest by multiplying the savingsBalance by annualInterestRate divided by 12 – this interest should be added to savingsBalance. Provide static method setAnnualInterestRate to set the annualInterestRate to a new value. Write an application to test class SavingsAccount. Create three savingsAccount objects, saver1, saver2, and saver3 with balances of $2,000.00, $3,000.00, and 0.00, respectively. Set annualInterestRate to 4%, then calculate the monthly interest and display the new balances for both savers. Then set the annualInterestRate to 5%, calculate the next month’s interest and display the new balances for both savers.