Chapter 15, Problem 7PP

Banks have many different types of accounts, often with different rules for fees associated with transactions such as withdrawals. Customers are allowed to transfer funds between accounts incurring the appropriate fees associated with withdrawal of funds from one account.

Write a program with a base class for a bank account and two derived classes (as described below) representing accounts with different rules for withdrawing funds. Also write a function that transfers funds from one account (of any type) to another. A transfer is a withdrawal from one account and a deposit into the other. Since the transfer can be done at any time with any type of account, the withdraw function in the classes must be virtual. Write a main program that creates three accounts (one from each class) and tests the transfer function.

For the classes, create a base class called BankAccount that has the name of the owner of the account (a string) and the balance in the account (double) as data members. Include member functions deposit and withdraw (each with a double for the amount as an argument) and accessor functions getName and getBalance. Deposit will add the amount to the balance (assuming the amount is nonnegative) and withdraw will subtract the amount from the balance (assuming the amount is nonnegative and less than or equal to the balance). Also create a class called MoneyMarketAccount that is derived from BankAccount. In a MoneyMarketAccount the user gets two free withdrawals in a given period of time (don’t worry about the time for this problem). After the free withdrawals have been used, a withdrawal fee of $1.50 is deducted from the balance per withdrawal. Hence, the class must have a data member to keep track of the number of withdrawals. It also must override the withdraw definition. Finally, create a CDAccount class (to model a Certificate of Deposit) derived from BankAccount that in addition to having the name and balance also has an interest rate. CDs incur penalties for early withdrawal of funds. Assume that a withdrawal of funds (any amount) incurs a penalty of 25% of the annual interest earned on the account. Assume the amount withdrawn plus the penalty are deducted from the account balance. Again, the withdraw function must override the one in the base class. For all three classes, the withdraw function should return an integer indicating the status (either ok or insufficient funds for the withdrawal to take place). For the purposes of this exercise, do not worry about other functions and properties of these accounts (such as when and how interest is paid).