Question

You will build a banking application which processes transactions. This banking application consists of three phases.

1. The program will read in a string of transactions from a file into an in-memory queue. These transactions can open accounts, withdraw funds, deposit funds, transfer funds, or ask for the transactional history to be printed.
2. The program will next read from the queue and process the transactions in order.
3. When the queue has been depleted the program will print out all open accounts and balances in those accounts.

Answer 1

A banking application processes transactions in three phases, involving reading transactions, processing them, and printing out account balances. Banks play a crucial role in the economy, providing secure storage for money and convenient payment options. They offer services like checking accounts, savings accounts, and money orders.

Step-by-step explanation:

A banking application processes transactions in three phases:

1. The program reads transactions from a file into an in-memory queue. These transactions can open accounts, withdraw funds, deposit funds, transfer funds, or ask for transactional history.
2. The program processes the transactions from the queue in order.
3. When the queue is depleted, the program prints out all open accounts and balances.

Banks play a crucial role in our economy by making transactions easier and safer. Individuals and business owners deposit their money in banks to store it securely and make payments conveniently. Banks offer various services, including checking accounts for day-to-day transactions and savings accounts for long-term saving goals. They also provide services like money orders to pay bills and serve as a hub for processing transactions in the economy.