Assume the existence of a bankaccount class. define a derived class, savingsaccount that contains two instance variables: the first a double, named interestrate, and the second an integer named interesttype. the value of the interesttype variable can be 1 for simple interest and 2 for compound interest. there is also a constructor that accepts two parameters: a double that is used to initialize the interestrate variable, and a string that you may assume will contain either "simple", or "compound", and which should be used to initialize the interesttype variable appropriately. there should also be a pair of functions getinterestrate and getinteresttype that return the values of the corresponding data members (as double and int respectively).

Many prestigious universities have a system called a “legacy preference system” which is used to decide which applicants should be accepted to the university. if an applicant’s parent is an alumnus of the university, the applicant will be admitted with lower gpa and sat scores than if the parent is not an alumnus. (there is currently a lot of discussion about the fairness of this system, but universities get a lot of money from their alumni so they are unwilling to change ) your assignment for mp2 is to implement a computerized system like this for a very small prestigious university. the university has two schools, liberal arts and music, each with their own criteria for accepting students. your program must read in certain information about an applicant and print a message saying whether the applicant should be accepted or not.