Savings account

Story

In this exercise you'll be working with savings accounts. Each year, the balance of your savings account is updated based on its interest rate. The interest rate your bank gives you depends on the amount of money in your account (its balance):

  • -3.213% for a negative balance.
  • 0.5% for a positive balance less than 1000 dollars.
  • 1.621% for a positive balance greater or equal than 1000 dollars and less than 5000 dollars.
  • 2.475% for a positive balance greater or equal than 5000 dollars.

Tasks

These are example tasks that fit the savings account exercise:

  • Calculate the interest rate
  • Calculate the annual balance update
  • Calculate the years before reaching the desired balance

Implementations