hej I need to Construct a loan account for a small company this is the info that is givin
* You can borrow a maximum of 1,000,000 kr
• There shall be no redemption. The entire loan amount + accrued interest payable in one sum at the end of the loan
• There is a choice of three maturities:
o SHORT_TERM: 1 year
o MIDDLE_TERM: 3 years
o LONG_TERM: 5 years
• The interest rate is fixed at loan creation on the basis of the discount rate
(see http://da.wikipedia.org/wiki/Diskontoen) following these rules:
o Corporate Customers: discount rate + 4% per year
o Private Clients: discount rate + 5% per year. Moreover, calculated a fee of 1000 kr in the creation
• Accrued interest once a year
The Assignment must have.
• LoanConstants.java: a public interface with the definitions of constant values for SHORT_TERM, MIDDLE_TERM and LONG_TERM, as well as lending its name and the maximum loan amount.
There need not necessarily be the method signatures in the interface.
• Loan.java: An abstract class that implements LoanConstants interface.
o A loan includes: loan number, customer name, amount, interest rate, maturity and date of creation (Hint: new Date () creates an object of type java.util.Date with the current date and time)
o Construct must have parameters for these fields, except interest rate, which may have a mutator method (setter)
o If attempting created loans larger than the maximum lånegrænse, the loan must be created with the maximum lånegrænse
o If attempting created loans with other maturities than the three defined, the loan must be created as SHORT_TERM
o The class must declare an abstract method for calculating the total amount payable on the loan expired
o The class must contain a toString () method, which prints the relevant data on a loan, including the total amount payable on the loan's maturity. See example at the end of the document
• BusinessLoan.java: Extender Loan. In the constructor set the interest rate to 4% above the discount rate
• PersonalLoan.java: Extender Loan. The constructor sets the interest rate to 5% above the discount rate.
• LoanDriver.java: Driver class whose main () method created a list (eg ArrayList <Loan>) of loans. There must be prompt for input of the current discount rate, after which a loop to prompt the creation of a number of loans of the two types which are stored in the list. When the user does not want to make more loans, all the established loan prints, including the total debt of a loan's maturity.