java Project

Issues

Bug: Checking account fund transfer only updates the destination account

The source account's balance is not updated following a transfer.

Feature: Savings account

Implement a savings account (in addition to the existing checking account).

Savings accounts have the same features as checking accounts, and additionally provide a method to apply interest over some number of years. Each savings account should allow for a unique interest rate, compounded once annually.

A formula for calculating annual compound interest is as follows:

where

S = value after t periods

P = principal amount (initial investment)

j = annual nominal interest rate (not reflecting the compounding)

n = number of times the interest is compounded per year

t = number of years the money is borrowed for

As an example, suppose an amount of $1500.00 is deposited in a bank paying an annual interest rate of 4.3%, compounded annually.

Then the balance after 6 years is found by using the formula above, with P = 1500, j = 0.043 (4.3%), n = 1, and t = 6:

S = 1500 (1 + 0.043) 6 = 1931.07

So, the balance after 6 years is approximately 1938.84. The amount of interest received can be calculated by subtracting the principal from this amount.

BONUS: Savings accounts cannot be withdrawn from directly -- they should only support deposits and transfers.

Kĩ năng: Java, JavaFX, JavaScript, PHP, Kiến trúc phần mềm

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ID dự án: #16831902