In the following code snippet, there are definitions of two…
In the following code snippet, there are definitions of two classes: BankAccount and SavingsAccount. The implementation shown below uses inheritance techniques, where SavingsAccount is a child of BankAccount. After executing the function calls below, what is the output? class BankAccount: interest_rate = 0.02 def __init__(self, owner, balance): self.owner = owner self._balance = balance def deposit(self, amount): self._balance += amount def get_balance(self): return self._balanceclass SavingsAccount(BankAccount): interest_rate = 0.05 def apply_interest(self): self._balance += self._balance * self.interest_rateclass CheckingAccount(BankAccount): def __init__(self, owner, balance): super().__init__(owner, balance) self.interest_rate = 0.01account1 = SavingsAccount(“Alice”, 1000)account2 = CheckingAccount(“Bob”, 1000)account1.apply_interest()account2.deposit(account2._balance * account2.interest_rate)print(f”Alice: ${account1.get_balance()}”)print(f”Bob: ${account2.get_balance()}”)