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It would be helpful if i could get a complete solution to the problem below.

Create a class SavingsAccount. Use a static class variable to store the annualInterestRate for each of the savers. Each object of the class contains a private instance variable savingsBalance indicating the amount the saver currently has on deposit. Provide method calculateMonthlyInterest to calculate the monthly interest by multiplying the balance by annualInterestRate divided by 12; this interest should be added to savingsBalance. Provide a static method modifyInterestRate that sets the annualInterestRate to a new value. Write a driver program to test the class SavingsAccount.
Instantiate two different savingsAccount objects, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively. Set annualInterestRate to 4%, then calculate the monthly interest and print the new balances for each of the savers. Then set the annualInterestRate to 5% and calculate the next months interest and print the new balances for each of the savers.
Write another class SpecialSavings that extends SavingsAccount to pay interest of 10% on accounts that have balances that exceed 10K. Also provided methods to deposit and take money out of savings account. Write a driver program to test the class SpecialSavings. Instantiate two different savingsAccount objects, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively. Make a few deposits and withdrawals and show balance and interest earned for each account.

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sangeeta74
Asked:
sangeeta74
1 Solution
 
mish33Commented:
Feel free to translate your homework to an appropriate language (C++ or Java based on description) ;)
class SavingsAccount(object):
  annualInterestRate = 0.05
  def __init__(self, balance):
    self.savingsBalance = balance
  def calculateMonthlyInterest(self):
    return self.annualInterestRate * self.savingsBalance / 12
  def advance1month(self):
    self.savingsBalance += self.calculateMonthlyInterest()
  def modifyInterestRate(self, newRate):
    self.annualInterestRate = newRate
 
class SpecialSavings(SavingsAccount):
  def calculateMonthlyInterest(self):
    if self.savingsBalance > 10000:
      return self.savingsBalance / 1.2
    else:
      return 0
 
if __name__=='__main__':
  saver1 = SavingsAccount(2000.)
  saver2 = SavingsAccount(3000.)
  SavingsAccount.annualInterestRate = 0.04
  saver1.advance1month()
  saver2.advance1month()
  print 'new balance', saver1.savingsBalance, saver2.savingsBalance
  SavingsAccount.annualInterestRate = 0.05
  saver1.advance1month()
  saver2.advance1month()
  print 'new balance', saver1.savingsBalance, saver2.savingsBalance

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sangeeta74Author Commented:
Thanx.
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