Analyze the requirements of the project carefully and divide the tasks among group
members to demonstrate an efficient teamwork. You should assign one member as a group
leader.
The project should be implemented as a multi-file program i.e., using abstraction
methodology.
You need to submit the following information (See the shared file at OneDrive) about your
group till 27 December, 2020.
o Group Name
o Group members name and ID (mention the group leader)
Create a class BankAccount to hold at least the following data / information about a bank
account:
Account balance
Total number of deposits
Total number of withdrawals
Interest rate e.g., annual rate = 0.05
Service charges per month
The class should have the following member functions:
Constructor To set the required data. It may be parameterized or user’s input.
depositAmount A virtual function used to accept an argument for the amount to
be deposited. It should add the argument (amount) to the account
balance. It should also increment the variable used to track the
number of deposits.
withdrawAmount A virtual function used to accept an argument for the withdraw
amount operation. It should subtract the argument from the
account balance. It should also increment the used to track the
number of withdrawals.
calculateInterest A virtual function which calculates the monthly interest of the
account and then updates the account balance by adding it to the
principal amount.
Note: Use the standard formulas/operations (monthly interest
calculation) to implement this function.
monthlyProcessing A virtual function which calls the calculateInterest function,
subtracts the monthly service charges from the balance, and then
sets the corresponding variables such as no. of withdrawals, no.
of deposits, monthly service charges and so on.
getMonthlyStatistics A member function used to display the monthly statistics of the
account such as deposit, withdrawals, service charges, balance
etc.
Next, create a SavingAccount class which is derived from the generic class BankAccount.
It should at least have one additional data member, i.e., ‘status’ that will be used to show whether
account is active or inactive.
If the balance of a savings account falls below RM 25, it becomes inactive and the account holder
will not be able to perform withdraw operation anymore until the balance is raised above RM 25.
If balance becomes greater than or equal to RM 25, the account will become active again.
The most common member functions of the SavingAccount class are given below.
depositAmount A function which first checks whether the account is active/inactive before
making a deposit. If inactive and the deposit brings the balance above RM
25, the account will become active again. The deposit will then be made
by calling the base class version of the function.
withdrawAmount A function which first checks whether the account is active/inactive before
making a withdrawal. If active, the withdrawal will be made by calling the
base class version of the function.
monthlyProcessing
This function first checks the no. of withdrawals before calling the base
class version of this function. If the number of withdrawals are more than
4, a service charge of RM 1 for each withdrawal greater than or equal to
RM 4 is added to the base class variable that holds the monthly service
charges. Note: check the account balance after applying the service charge.
If the balance become lower than RM 25, the account becomes inactive
again.
Next step is to design a CheckingAccount class. It is also derived from the generic account
class and should at least have the following member functions.
withdrawAmount This function first determines whether a withdrawal request will cause the
balance to go below RM 0. If it falls below RM 0, a service charge of RM
15 will be deducted from the account, and the withdrawal will not be made.
If there is not enough amount to deduct the service charges, the balance
will become negative accordingly.
monthlyProcessing This function applies a monthly fee of RM 5 plus RM 0.10 per withdrawal
to the base class variable that holds the monthly service charges.
Input Validations: Apply input validations wherever appropriate such as input data format for
account number and title, and other validation checks applied in a practical banking system.
Assume the account number is a 6-digit integer value (324561).
Implement the above functionality using abstraction methodology. This project requires to
simulate one Saving and one Checking account, however, simulating multiple accounts (may be
up to 5) is encouraged. If you simulate multiple accounts, highlight it in your report and the
presentation file. You may need to add more member variables and functions than those listed
above. Your application should at least provide the following functionality (a sample run):
Bank Account System
1. Saving Account Number
2. Saving Account Title
3. Checking Account Number
4. Checking Account Title
5. Deposit in a Saving Account
6. Deposit in a Checking Account
7. Withdraw from Saving Account
8. Withdraw from Checking Account
9. Update and Display Account Statistics
10. Exit
Upon selecting the desired option in the above menu, your application should perform the
required functionality.