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C++ Program development Creates a SavingsAccount classUses a static data member


C++ Program development:

Creates a SavingsAccount class

Uses a static data member,

annualInterestRate, to store the annual interest rate for each of the savers

Ensures each member of the class contains a private data member, savingsBalance, indicating the amount the saver currently has on deposit

Develops a member function, calculateMonthlyInterest, to calculate the monthly interest by multiplying the savingsBalance by annualInterestRate divided by 12; this interest should then be added to savingsBalance

Develops a static member function, modifyInterestRate, that sets the static annualInterestRate to a new value

Instantiates two different objects of class SavingsAccount, Firstsaver and Secondsaver, with balances of $1000.00 and $2000.00, respectively; set the annualInterestRate to 2 percent

Calculates the monthly interest and prints the new balances for each of the savers

Sets the annualInterestRate to 3 percent, calculates the next month’s interest, and prints the new balances for each of the savers

Include the proper header and make sure you properly comment your program using proper coding conventions.

Balance after first month interest with rate 2% :
Firstsaver’s balance with interest : 1166.67
Secondsaver’s balance with interest : 2333.33
Balance after modifying interest rate to 3%
Engineering Technology