23 May EXPLAIN THE DIFFERENCES BETWEEN LOCAL VARIABLES, INSTANCE VARIABLES AND METHOD PARAMETERS
Learning Objectives
After completing this project, you should be able to:
• write compile and run a simple Java class
• write expressions using variables
• write methods to meet specific requirements
• Explain the differences between local variables, instance variables and method parameters
• write conditional statements with Boolean expressions
Project Summary
Create a class, called CreditCard, which simulates the functionality of a credit card such as Visa or Mastercard. You can do simple things like make purchases, take cash advances and make payments. Important information about your card:
• Annual Percentage Rate (APR) for previous month balance is 15.9%
• Cash advance APR is 25.9% effective on the day of advance and until the end of the month (assume all months have 30 days but the year has 365 days)
• Each balance transfer has a fee of $5 or 3% of the transfer, whichever is greater
• Required minimum payment is 1.5% of balance or $25, whichever is greater
• Due date is the 20th of the month
• Late payment fee is $37 – if at least a minimum payment is not made within grace period (20 days)
• Minimum Interest – if you are charged interest, the minimum amount will be $0.50
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