Implement an inheritance hierarchy based on the following specifications for Account class, Checking Account class, and Savings Account class: Account class Methods: processDeposit ( ) – accepts a single double parameter containing the deposit amount. Upd
accounting
Description
Implement an inheritance hierarchy based on the following specifications for Account class, Checking Account class, and Savings Account class: Account class Methods: processDeposit ( ) – accepts a single double parameter containing the deposit amount. Updates the balance by adding the deposit amount to the balance. processWithdrawal ( ) – accepts a single double parameter containing the withdrawal amount. Updates the balance by subtracting the withdrawal amount for the balance. Note: For now do not worry about negative balances. calcInterest ( ) – Coded as a double method with an empty body. Attributes: String Account Name Integer Account ID Double balance Constructor Prompt the user and accept input for the Account Name, Account ID and the initial balance.
The CheckingAcct class which is a derived class of the Account class. Attributes: Inherits all the attributes of the Account class. The overdraft fee is double and is populated in the constructor of the CheckingAcct class. Methods: calcInterest () – If the account balance is greater than or equal to 3000.00 an interest rate of 1% or .01 is applied to increase the balance. Constructor: Prompt the user for the OverDraftFee. The SavingsAcct class which is a derived class of the Account class. Attributes: Inherits all the attributes of the Account class. There are no other attributes. Methods: calcInterest ( ) – If the account balance is greater than or equal to 5000.00 an interest rate of 4% or .04 is applied to increase the balance. If the balance is greater than or equal to 3000.00 an interest rate of 3% or .03 is applied to increase the balance. Otherwise use an interest rate of 2%. The new balance is returned to the calling program. Constructor: Inherited from the Account class. (no code needed) Main: Prompt the user for the bank name and routing number. Create at least two account objects (each of a different type). Process a deposit then withdraw then calculate the interest for each account. Generate the following report: Bank Name: XXXXXXXX Routing Number: XXXXXX Account Name: XXXXXX Account ID: XXXXXXXXX Balance: 9999.99 Account Name: XXXXXX Account ID: XXXXXXXXX Balance: 9999.99
