This is the question that I have to do can someone please help?!
QUESTION 2 - MANDATORY
The file savings.txt contains the names and savings of 3 Bank customers in the last four
months.
Month1 Month2 Month3 Month4
Dennis Daly 480 620 57 73
Brid Jones 82 61 550 65
Mary Henry 49 47 57 500
Write a console application that:
Reads and displays the name and savings for each customer.
Calculates and display the average saving for each customer.
Display the interest earned by each customer based on their total savings after the four
months. The following criteria:
Savings Interest Rate
>=1000 5%
>=500 2%
>=300 0.5%
<300 0%
To solve this question, you will need to follow these steps:
1. Read the file "savings.txt" and parse the data into a data structure that can hold the customer names and their savings for each month.
2. Write a loop to iterate over each customer and display their name and savings for each month.
3. Calculate the average savings for each customer by summing up their savings for each month and dividing it by the number of months.
4. Calculate the interest earned by each customer based on their total savings after the four months. Apply the interest rate based on the criteria provided.
5. Display the average savings and interest earned for each customer.
Here's a sample code in Python that demonstrates how to accomplish these steps:
```python
# Step 1: Read the file and parse the data
data = []
with open("savings.txt", "r") as file:
lines = file.readlines()
for line in lines:
customer_data = line.strip().split()
data.append(customer_data)
# Step 2: Display the name and savings for each customer
for customer in data:
name = customer[0]
savings = customer[1:]
print(f"Name: {name}")
for i, saving in enumerate(savings):
month = i + 1
print(f"Month {month}: {saving}")
print()
# Step 3: Calculate and display the average savings for each customer
for customer in data:
name = customer[0]
savings = [int(saving) for saving in customer[1:]]
average_savings = sum(savings) / len(savings)
print(f"Average savings for {name}: {average_savings}")
# Step 4: Calculate and display the interest earned by each customer
for customer in data:
name = customer[0]
total_savings = sum([int(saving) for saving in customer[1:]])
interest_rate = 0
if total_savings >= 1000:
interest_rate = 0.05
elif total_savings >= 500:
interest_rate = 0.02
elif total_savings >= 300:
interest_rate = 0.005
interest_earned = total_savings * interest_rate
print(f"Interest earned by {name}: {interest_earned}")
```
Make sure to replace "savings.txt" with the correct file path or name, and also adjust the code if you're using a different programming language.