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NEEDED IN C++. Banks offer various types of accounts, such as Savings, Checking, Certificates of Deposit, and money market to attract customers as well as
NEEDED IN C++.
Banks offer various types of accounts, such as Savings, Checking, Certificates of Deposit, and money market to attract customers as well as meet their specific needs. Two of the most commonly used accounts are Savings and Checking. Each of these accounts has various options. For example, you may have a Savings Account that requires no minimum balance but has a lower interest rate. Similarly, you may have a checking account that limits the number of checks you may write. Another type of account that is used to save money for the long term is Certificate of Deposit (CD) In this question, you will use Abstract Classes and Pure virtual functions to design classes to manipulate various types of accounts. Assume that bank offers three types of accounts: Savings, Checkings and Certificate of Deposits. Two types of Saving Accounts: 1) one that has no minimum balance and lower rate of interest and 2) requires a minimum balance but has a higher interest rate. Savings Accounts Checking Accounts Three types of Checking Accounts: 1) One with monthly service charge, limited check writing, no minimum balance and no interest 2) No monthly service charge, a minimum balance requirement, unlimited check writing and lower interest rate 3) No monthly service charge, a higher minimum requirement, higher interest rate and unlimited check writing. Certificate of Deposit (CD) Money is left for some time and these accounts draw higher interest rates than Savings or Checkings. Suppose you buy a CD for six months, then we say that CD will be mature in six months. The penalty for early withdrawls is stiffStep by Step Solution
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