Computers and Technology, 28.02.2021 16:50 heyheyhola

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 12- this interest should be added to savingsBalance. Provide a static method setInterestRate that sets the annualInterestRate to a new value. There should also be a method setSavingsBalance to set the initial savings balance for a new saver or you can do it through a constructor. 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 12 months and print the new balances for both savers. Next, set the annualInterestRate to 5%, calculate the next month's interest and print the new balances for both savers.

If you run this java file right now, it only prints out the amount for 1 month. How can you make my program so that it prints the amount for 13 months?

It should print out

Month 1: 2006.67

Month 2: 2013.36

Month 3: 2020.07

Month 4: 2026.80

etc.

after 12 month, change the rate to be 5 percent

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Create class SavingsAccount. Use a static variable annualInterestRate to store the annual interest r...

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