Create a class SavingsAccount. Use a static class 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 a method calculateMonthlyInterest to calculate the monthly interest by multiplying the savingsBalance by annualInterestRate divided by 12; this interest should be added to savingsBalance.
Provide a static method modifyInterestRate that sets the annualInterestRate to a new value. Write a driver program to test class SavingsAccount. Instantiate two SavingsAccount objects, saver1 and saver2, with balances of $200,000 and $300,000 respectively. Set annualInterestRate to 4%, calculate the monthly interest and print the new balances for each of the savers. Change the annualInterestRate to 5% and calculate the next month's interest and print the new balances for each of the savers.
1) Complete and fully-functional working program(s) in executable form as well as complete source code of all work done.
2) I need the both the .java and .class files.
3) This program must work perfectly.