Banks offer various types of accounts, such as savings, checking, certificate of deposits, and money market, to attract customers as well as meet with their specific needs. Two of the most commonly used accounts are savings and checking. Each of these accounts has various options. For example, you may have a savings account that requires no minimum balance but has a lower interest rate. Similarly, you may have a checking account that limits the number of checks you may write. Another type of account that is used to save money for the long term is certificate of deposit (CD). In this programming exercise, you use abstract classes to design classes to manipulate various types of accounts. For simplicity, assume that the bank offers three types of accounts: savings, checking, and certificate of deposit, as described next.
Savings accounts: Suppose that the bank offers two types of savings accounts: one that has no minimum balance and a lower interest rate and another that requires a minimum balance and has a higher interest rate.
Checking accounts: Suppose that the bank offers three types of checking accounts: one with a monthly service charge, limited check writing, no minimum balance, and no interest; another with no monthly service charge, a minimum balance requirement, unlimited check writing and lower interest; and a third with no monthly service charge, a higher minimum requirement, a higher interest rate, and unlimited check writing.
Certificate of deposit (CD): In an account of this type, money is left for some time, and these accounts draw higher interest rates than savings or checking accounts. Suppose that you purchase a CD for six months. Then we say that the CD will mature in six months. Penalty for early withdrawal is stiff.
Write the definitions of the classes described in this programming exercise and a program to test your classes.

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public abstract class BankAccount {
    private String name;
    private int accountNumber;
    private double balance;

    public String getName() {
        return name;
    }

    public void setName(String name) {
        this.name = name;
    }
    

    public int getAccountNumber() {
        return accountNumber;
    }

    public void setAccountNumber(int accountNumber) {
        this.accountNumber = accountNumber;
    }

    public double getBalance() {
        return balance;
    }

    public void setBalance(double balance) {
        this.balance = balance;
    }
    
    public void withdrawal(double amountWithDrawn)
    {
        if (balance > 0.0){
            if((balance - amountWithDrawn) < 0.0) {
                System.out.println("Sorry, your balance is insufficient to perform this transaction!");
            }else{
                balance  -= amountWithDrawn;
            }
        }
        else {
            System.out.println("Sorry, you currently have no money in your account!");
        }   
    }   
    
    public double deposit(double amountDeposited) {
        return balance += amountDeposited;
    }
    
    public abstract void createMonthlyStatement();

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public abstract class CheckingAccount extends BankAccount {
    
    public abstract void writeCheck(double amount);
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class CertificateOfDeposit extends BankAccount {
    private int numberOfCDMaturityMonths;
    private double interestRate;
    private int currentCDMonth;

    public int getNumberOfCDMaturityMonths() {
        return numberOfCDMaturityMonths;
    }

    public void setNumberOfCDMaturityMonths(int numberOfCDMaturityMonths) {
        this.numberOfCDMaturityMonths = numberOfCDMaturityMonths;
    }

    public double getInterestRate() {
        return interestRate;
    }

    public void setInterestRate(double interestRate) {
        this.interestRate = interestRate;
    }

    public int getCurrentCDMonth() {
        return currentCDMonth;
    }

    public void setCurrentCDMonth(int currentCDMonth) {
        this.currentCDMonth = currentCDMonth;
    } 
    
    @Override
    public void createMonthlyStatement(){
        System.out.println("\nMonthly Statement\nAccount Name: " + getName() + "\nAccount Number: " + getAccountNumber() + "\nAccount Type: Certificate of Deposit Account" + "\nInterest for the month: " + getInterestRate() +"\nAccount Balance: " + (getBalance() + getInterestRate()) + "\nCurrent CD Month is " + getCurrentCDMonth() + " out of " + getNumberOfCDMaturityMonths());
    }
    
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class SavingsAccount extends BankAccount {
    private double interestRate;

    public double getInterestRate() {
        return interestRate;
    }

    public void setInterestRate(double interestRate) {
        this.interestRate = interestRate;
    }

    @Override
    public void createMonthlyStatement() {
        System.out.println("\nMonthly Statement\nAccount Name: " + getName() + "\nAccount Number: " + getAccountNumber() + "\nAccount Type: Savings Account" + "\nInterest for the month: " + getInterestRate() +"\nAccount Balance: " + (getBalance() + getInterestRate()));
    }
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class ServiceChargeChecking extends CheckingAccount {
    
    private double serviceCharge;
    private int limit;
    public static final double INTEREST = 0.0;
    public static final double MININMUMBALANCE = 0.0;

    public double getServiceCharge() {
        return serviceCharge;
    }

    public void setServiceCharge(double serviceCharge) {
        this.serviceCharge = serviceCharge;
    }

    public static double getINTEREST() {
        return INTEREST;
    }

    public static double getMININMUMBALANCE() {
        return MININMUMBALANCE;
    }

    public int getLimit() {
        return limit;
    }

    public void setLimit(int limit) {
        this.limit = limit;
    }

    @Override
    public void writeCheck(double amount) {
        if(getLimit() <= 0 ){
            System.out.println("You've exhausted the check limit for this month");
        }else{
            setBalance((getBalance() - amount));
            setLimit(getLimit() - 1);
            System.out.println("Checking Transaction Successful! " + amount + " Checked out.");
        }
    }

    @Override
    public void createMonthlyStatement() {
        System.out.println("\nMonthly Statement\nAccount Name: " + getName() + "\nAccount Number: " + getAccountNumber() + "\nAccount Type: Service Checking Account" + "\nService Charge for the month: " + getServiceCharge() +"\nAccount Balance: " + (getBalance() - getServiceCharge()));
    }
    
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class NoServiceChargeChecking extends CheckingAccount {
    private double interestRate;
    private static final double MININMUMBALANCE = 10.50;

    public double getInterestRate() {
        return interestRate;
    }

    public void setInterestRate(double interestRate) {
        this.interestRate = interestRate;
    }

    public static double getMININMUMBALANCE() {
        return MININMUMBALANCE;
    }
    
    //define method to check Balance Status
    public boolean isAccountBalanceLessThanMinimumBalance() {
        if(getBalance() < getMININMUMBALANCE()){
            return true; // Account balance is lower than minimum balance
        }
        else{
            return false; // Account balance is good to go
        }
    }
    
    @Override
    public void writeCheck(double amount) {
        if(isAccountBalanceLessThanMinimumBalance()){
            System.out.println("Checking Transaction Denied! Account balance is currently lower than minimum balance!");
        }
        else
        {
            if((getBalance() - amount) < getMININMUMBALANCE()){
                System.out.println("Checking Transaction Denied due to insufficient amount!");
            }
            else
            {
                setBalance(getBalance() - amount);
                System.out.println("Checking Transaction Successful! " + amount + " Checked out.");
            }
        }
    }

    @Override
    public void createMonthlyStatement() {
        System.out.println("\nMonthly Statement\nAccount Name: " + getName() + "\nAccount Number: " + getAccountNumber() + "\nAccount Type: No Service Checking Account" + "\nInterest for the month: " + getInterestRate() +"\nAccount Balance: " + (getBalance() + getInterestRate()));
    }
    
    
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class HighInterestChecking extends NoServiceChargeChecking {
    
    private double interestRate;
    private static final double MININMUMBALANCE = 21.50;

    @Override
    public double getInterestRate() {
        return this.interestRate; 
    }
    
    public void setInterestRate(double interestRate) {
        this.interestRate = interestRate;
    }
        
    
    public static double getMININMUMBALANCE() {
        return MININMUMBALANCE;
    }
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class HighInterestSavings extends SavingsAccount {
    private static final double MININMUMBALANCE = 10.50;

    public static double getMININMUMBALANCE() {
        return MININMUMBALANCE;
    }

    @Override
    public double getInterestRate() {
        return super.getInterestRate() * 2; //To change body of generated methods, choose Tools | Templates.
    }    
    
}

• Java Code

package banks;
/**
 *
 * @author Archangel Macsika
 */
public class Banks {
    public static void main(String[] args) {
        
        // Declare variables for common values
        double accountBalance, standardServiceCharge, highServiceCharge, standardInterestRate, highInterestRate;
        String accountName = "Nsikak Imoh";
        int accountNumber = 1234567890;
        accountBalance = 1000.50;
        standardServiceCharge = 100.00;
        standardInterestRate = 50.50;
        highInterestRate = standardInterestRate * 2;
        int limit = 3;
         
        // Program for ServiceChargeChecking Class
        ServiceChargeChecking scc = new ServiceChargeChecking();
        scc.setName(accountName);
        scc.setAccountNumber(accountNumber);
        scc.setBalance(accountBalance);
        scc.setServiceCharge(standardServiceCharge);
        scc.setLimit(limit);
        scc.writeCheck(800.00);
        scc.createMonthlyStatement();
        
        // Program for NoServiceChargeChecking Class
        NoServiceChargeChecking nscc = new NoServiceChargeChecking();
        nscc.setName(accountName);
        nscc.setAccountNumber(accountNumber);
        nscc.setBalance(accountBalance);
        nscc.setInterestRate(standardInterestRate);
        nscc.writeCheck(800.00);
        nscc.createMonthlyStatement();
        
        // Program for HighInterestChecking Class
        HighInterestChecking hic = new HighInterestChecking();
        hic.setName(accountName);
        hic.setAccountNumber(accountNumber);
        hic.setBalance(accountBalance);
        hic.setInterestRate(highInterestRate);
        hic.writeCheck(800.00);
        hic.createMonthlyStatement();
        
        // Program for SavingsAccount Class
        SavingsAccount sa = new SavingsAccount();
        sa.setName(accountName);
        sa.setAccountNumber(accountNumber);
        sa.setBalance(accountBalance);
        sa.setInterestRate(standardInterestRate);
        sa.deposit(2000.00);
        sa.withdrawal(3500.50);
        sa.createMonthlyStatement();
        
        // Program for HighInterestSavings Class
        HighInterestSavings his = new HighInterestSavings();
        his.setName(accountName);
        his.setAccountNumber(accountNumber);
        his.setBalance(accountBalance);
        his.setInterestRate(highInterestRate);
        his.createMonthlyStatement();
        
        // Program for CertificateOfDeposit Class
        CertificateOfDeposit cod = new CertificateOfDeposit();
        cod.setName(accountName);
        cod.setAccountNumber(accountNumber);
        cod.setBalance(accountBalance);
        cod.setInterestRate(standardInterestRate);
        cod.setNumberOfCDMaturityMonths(10);       
        cod.setCurrentCDMonth(4);
        cod.createMonthlyStatement();     
    }
    
}