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Thread: Show interest rate properly

  1. #1
    Junior Member
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    Default Show interest rate properly

    Hello everyone, how do i get my code to output "The annual interest rate is: 4.5" and not. "The annual interest rate is:0.045".
    Below i have attached my code thank you.

    import java.util.Date;

    public class Account {

    public static void main(String[] args) {
    // TODO Auto-generated method stub

    Account account1 = new Account(1122, 20000.00, .045);
    account1.withdraw(2500);
    account1.deposit(3000);
    System.out.println("The balance is: " + account1.getBalance());
    System.out.println("The monthly interest is: " + account1.monthlyInterest());
    System.out.println("The monthly interest rate is: " + account1.getMonthlyInterestRate());
    System.out.println("The anunual interest rate is:" + account1.getAnnualInterestRate());


    }


    //define variables
    private double id;
    private double balance; // balance for account
    private double annualInterestRate; //stores the current interest rate
    private Date dateCreated; //stores the date account created

    //no arg construtor
    Account () {
    id = 0.0;
    balance = 0.0;
    annualInterestRate = 0.0;
    }
    //constructor with specific id and initial balance
    Account(double newId, double newBalance) {
    id = newId;
    balance = newBalance;
    }
    Account(double newId, double newBalance, double newAnnualInterestRate) {
    id = newId;
    balance = newBalance;
    annualInterestRate = newAnnualInterestRate;
    }
    //accessor/mutator methods for id, balance, and annualInterestRate
    public double getId() {
    return id;
    }
    public double getBalance() {
    return balance;
    }

    public double monthlyInterest() {
    return balance * getMonthlyInterestRate();
    }
    public double getAnnualInterestRate() {
    return annualInterestRate;
    }
    public void setId(int newId) {
    id = newId;
    }
    public void setBalance(double newBalance) {
    balance = newBalance;
    }
    public void setAnnualInterestRate(double newAnnualInterestRate) {
    annualInterestRate = newAnnualInterestRate;
    }
    //accessor method for dateCreated
    public void setDateCreated(Date newDateCreated) {
    dateCreated = newDateCreated;
    }
    //define method getMonthlyInterestRate
    double getMonthlyInterestRate() {
    return annualInterestRate/12;
    }
    //define method withdraw
    double withdraw(double amount) {
    return balance -= amount;
    }
    //define method deposit
    double deposit(double amount) {
    return balance += amount;
    }
    }

  2. #2
    Super Moderator Norm's Avatar
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    Default re: Show interest rate properly

    The annual interest rate is: 4.5" and not. "The annual interest rate is:0.045".
    Can you multiply 0.045 by a value to get 4.5?

    What is the definition of interest rate? For your example the return on $100 would be $4.50

    Please edit your post and wrap your code with code tags:

    [code]
    **YOUR CODE GOES HERE**
    [/code]

    to get highlighting and preserve formatting.
    If you don't understand my answer, don't ignore it, ask a question.

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