2. Exploring Objects and Math in JavaScript

Objective: The objective of this assignment is to enhance proficiency in working with JavaScript objects and utilizing the Math class for mathematical operations.

Problem Statement: You are tasked with developing a JavaScript program that simulates a simple banking application. The program should allow users to create accounts, deposit funds, withdraw funds, and calculate interest based on specified rates.

Task 1: Create a constructor function for the Account object with properties for accountNumber, balance, and owner.

Task 2: Implement methods within the Account object to deposit and withdraw funds.

Task 3: Create a method to calculate compound interest based on the balance and specified interest rate. Allow users to pass a year parameter to your method that represents the # of years the money has been invested and an interest rate. The output should be rounded up to the nearest whole number (perhaps using the Math.ceil()). The formula for compound interest is...

A=P(1+nr)^nt

Where:

$𝐴$ is the amount of money accumulated after n years, including interest.
$𝑃$ is the principal amount (the initial sum of money).
$𝑟$ is the annual interest rate (in decimal form).
$𝑛$ is the number of times interest is compounded per year (you can use 1 for this example).
$𝑡$ is the number of years the money is invested or borrowed for (this will be your parameter passed into the method).

Expected Outcomes:

After completing this assignment, students should be able to create objects using constructor functions and manipulate their properties and methods in JavaScript.
Students should understand how to perform basic mathematical operations and calculations using the Math class.
Students should be able to apply object-oriented principles and mathematical concepts to solve real-world problems, such as financial calculations in a banking application.

Lesson 4: Assignments | JavaScript Objects