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using java plzzz need help Create class SavingsAccount. Use a static variable annualInterestRate to store the annual interest rate for all account holders. Each object

using java plzzz need help

Create class SavingsAccount.

  • Use a static variable annualInterestRate to store the annual interest rate for all account holders.
  • Each object of the class contains a private instance variable savingsBalance indicating the amount the saver currently has on deposit.
  • Provide method calculateMonthlyInterest to calculate the monthly interest by multiplying the savingsBalance by annualInterestRate divided by 12this interest should be added to savings-Balance.
  • Provide a static method modifyInterestRate that sets the annualInterestRate to a new value.
  • Write a program to test class SavingsAccount.
  • Instantiate two savingsAccount objects, saver1 and saver2, with balances of $2000.00 and $3000.00, respectively.
  • Set annualInterestRate to 4%, then calculate the monthly interest for each of 12 months and print the new balances for both savers.
  • Next, set the annualInterestRate to 5%, calculate the next months interest and print the new balances for both savers.

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