Java

Advance Java CSCI 3210 Section Name: Date: Assignment 1 Instructions: Submit an electronic copy of the assignment (java) to the Dropbox (ex. ClassName.java, etc.) IMPORTANT: FOLLOW GOOD PROGRAMMING STYLE/CONVENTION FOR NAMING ALL YOUR OBJECTS/VARIABLES. ADD COMMENTS ON TOP OF EACH METHOD AND AT TOP OF THE FILE (SEE EXAMPLE ATTHE LAST PAGE Programming Exercise: Savings Account Class) Create class SavingsAccount. Use a static variable annuallnterestRate 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 annual InterestRate divided by 12 this interest should be added to savings Balance. Provide a static method modify InterestR ate that sets the annual Interest Rate to a nevw value. Write a program to test class Savings Account. Instantiate two savingsAccount objects saverl and saver2, with balances of $2000.00 and S3000.00, respectively. Set annuallnterestRate to 4%, then calculate the monthly interest for each of 12 months and print the new balances for both savers. Next, set the annual Interstate to 5%, calculate the next month's interest and print the new balances for both savers