Bank Account Types in Java: Explanation & Practice

Problem summary

Create BankAccount hierarchy with Savings (5% interest) and Checking (1% interest).

Starter code

// BankAccount: balance, abstract getInterest()
// Savings: 5% annual interest
// Checking: 1% annual interest

public class Main {
    public static void main(String[] args) {
        // Test case 1: Savings with 10000
        // Print: Interest: <result>
    }
}

Expected output and test cases

• Savings 10000 * 5%

  Interest: 500.0

• Checking 10000 * 1%

  Interest: 100.0

• Savings 5000

  Interest: 250.0

Hints

1. Each account type has fixed rate
2. getInterest() returns balance * rate
3. Rate stored as class constant

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