Java

2. Create a class Savings Account. 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 savings Balance indicating the amount the saver currently has on deposit. Provide method calculateMonthlyInterest to calculate the monthly interest by multiplying the savingsBalance by annualInterestRate that sets the annualInterestRate to a new value. Write a program to test class Savings Account. Instantiate two savings Account objects, saverl and saver2, with balances $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 month's interest rate and print the new balances for both savers