MP34 Midterms
MP34 Midterms
MP34 Midterms
MP4
Sanchez Construction Loan Co. makes loans of up to $100,000 for construction
projects. There are two categories of Loansthose to businesses and those to
individual applicants.
Write an application that tracks all new construction loans. The application must
also calculate the total amount owed at the due date (original loan amount + loan
fee).
The application should include the following classes:
LoanA public abstract class that implements the LoanConstants interface. A Loan
includes a loan number, customer last name, amount of loan, interest rate, and
term. The constructor requires data for each of the fields except interest rate. Do
not allow loan amounts over $100,000. Force any loan term that is not one of the
three defined in the LoanConstants class to a short-term, one-year loan.
LoanConstantsA public interface class. LoanConstants includes constant values
for short-term (1 year), medium-term (3 years), and long-term (5 years) loans. It
also contains constants for the company name and the maximum loan amount.
BusinessLoanA public class that extends Loan. The BusinessLoan constructor
sets the interest rate to 1% over the current prime interest rate.
PersonalLoanA public class that extends Loan. The PersonalLoan constructor
sets the interest rate to 2% over the current prime interest rate.
CreateLoansAn application that creates an array of five Loans. Prompt the user
for the current prime interest rate. Then, in a loop, prompt the user for a loan type
and all relevant information for that loan. Store the created Loan objects in the
array. When data entry is complete, display all the loans. Save the files as
Loan.java, LoanConstants.java, BusinessLoan.java, PersonalLoan.java, and
CreateLoans.java.