A new bank wants a digital system to manage its accounts



A new bank wants a digital system to manage its accounts. There are three major types of accounts the bank offers. Checking accounts, savings accounts and CDs.

Checking accounts come in a variety of forms. They may have a minimum balance, or no minimum. They may be interest bearing or non-interest bearing. They may have free checks or not. They may have a limited number of checks per month or not. They may have a minimum balance or not. Customers should be able to check their balance, make a withdrawal, make a deposit, and write checks against the account. If a withdrawal would take a balance below the minimum, a fee should be charged. If the customer writes more checks in a month than is allowed by his/her account then a fee per check should be charged. If a check is written for more funds than are in the account, then no withdrawal should be performed and a fee should be charged.

Savings accounts are always interest bearing, always have a minimum balance and compound their interest monthly at the current interest rate. Savings accounts have free checks, but are limited to 5 checks per month. Customers should be able to check their balance, make a withdrawal, make a deposit and write checks against the account. If a check is written for more funds than are in the account, then no withdrawal should be performed and a fee should be charged. If the customer writes more than 5 checks in a month a large fee per check should be charged. If a withdrawal would take a balance below the minimum, the withdrawal should not be allowed.

CDs have terms that vary, either 6 months, 12 months or 2 years. During the term, no withdrawal or deposit may be made. The customer should be able to check the CDs balance. Interest is compounded monthly based on the interest rate that was set when the CD was created. CDs may be canceled early for a large fee. At the end of its term, the CD should revert to a basic checking account.

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