(Account Inheritance Hierarchy) Create an inheritance hierarchy that a bank might use to represent customer bank accounts. All customers at this bank can deposit money into their accounts and withdraw money from their accounts. More specific types of accounts also exist. Savings accounts, for instance, earn interest on the money they hold. Checking accounts, on the other hand, don't earn interest and charge a fee per transaction. Start with class Account from this chapter and create two subclasses Savings Account and CheckingAccount. A Savings Account should also include a data attribute indicating the interest rate. A Savings Account's calculate_interest method should return the Decimal result of multiplying the interest rate by the account balance. Savings Account should inherit methods deposit and withdraw without redefining them. A CheckingAccount should include a Decimal data attribute that represents the fee charged per transaction. Class CheckingAccount should override methods deposit and withdraw so that they subtract the fee from the account balance whenever either transaction is performed successfully. CheckingAccount's versions of these methods should invoke the base-class Account versions to update the account balance. CheckingAccount's withdraw method should charge a fee only if money is withdrawn (that is, the withdrawal amount does not exceed the account balance). Create objects of each class and tests their methods. Add interest to the SavingsAccount object by invoking its calculate_interest method. then passing the returned interest amount to the object's deposit method.

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1. (Account Inheritance Hierarchy) Create an inheritance hierarchy that a bank might use to
represent customer bank accounts. All customers at this bank can deposit money into
their accounts and withdraw money from their accounts. More specific types of accounts
also exist. Savings accounts, for instance, earn interest on the money they hold.
Checking accounts, on the other hand, don't earn interest and charge a fee per
transaction.
Start with class Account from this chapter and create two subclasses SavingsAccount
and CheckingAccount. A Savings Account should also include a data attribute
indicating the interest rate. A Savings Account's calculate_interest method should
return the Decimal result of multiplying the interest rate by the account balance.
SavingsAccount should inherit methods deposit and withdraw without redefining
them.
A CheckingAccount should include a Decimal data attribute that represents the fee
charged per transaction. Class CheckingAccount should override methods deposit
and withdraw so that they subtract the fee from the account balance whenever either
transaction is performed successfully. CheckingAccount's versions of these methods
should invoke the base-class Account versions to update the account balance.
CheckingAccount's withdraw method should charge a fee only if money is withdrawn
(that is, the withdrawal amount does not exceed the account balance).
Create objects of each class and tests their methods. Add interest to the
SavingsAccount object by invoking its calculate_interest method. then passing the
returned interest amount to the object's deposit method.
Transcribed Image Text:1. (Account Inheritance Hierarchy) Create an inheritance hierarchy that a bank might use to represent customer bank accounts. All customers at this bank can deposit money into their accounts and withdraw money from their accounts. More specific types of accounts also exist. Savings accounts, for instance, earn interest on the money they hold. Checking accounts, on the other hand, don't earn interest and charge a fee per transaction. Start with class Account from this chapter and create two subclasses SavingsAccount and CheckingAccount. A Savings Account should also include a data attribute indicating the interest rate. A Savings Account's calculate_interest method should return the Decimal result of multiplying the interest rate by the account balance. SavingsAccount should inherit methods deposit and withdraw without redefining them. A CheckingAccount should include a Decimal data attribute that represents the fee charged per transaction. Class CheckingAccount should override methods deposit and withdraw so that they subtract the fee from the account balance whenever either transaction is performed successfully. CheckingAccount's versions of these methods should invoke the base-class Account versions to update the account balance. CheckingAccount's withdraw method should charge a fee only if money is withdrawn (that is, the withdrawal amount does not exceed the account balance). Create objects of each class and tests their methods. Add interest to the SavingsAccount object by invoking its calculate_interest method. then passing the returned interest amount to the object's deposit method.
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