Assignment 1Due date:Week 6 Friday (25-Aug-2017) 11:45 PM AESTWeighting:20%Assignment taskWrite a java console application that calculates and displays the bank interest for N bank accounts. N should be declared as a constant and it should be equal to the largest digit of your student ID number (e.g. if your ID number is S334261 then N should be equal to 6 and you can declare it as final int N=6). The interest is based on total amount in account as shown below in Table 1.Table 1. Amount and InterestAmountInterest$0 â€“ $10000% (no interest)$1001 â€“ $50002.5%$5001- $100005%Over $100008% (high interest)The application should ask the user to enter the amount for each account (total N accounts) and calculate the interest. The application should display the interest for each bank account as shown in the example below. At the end of the Nth accounts interest the details such as total interest lowest interest highest interest average interest and number of accounts with no interest should be displayed. The total interest is calculated by adding the interest for all accounts. The lowest interest is calculated by finding the lowest value from interests for N accounts. The highest interest is calculated by finding the highest value from interests for N accounts. The average interest is calculated by dividing the total interest with the total number of accounts. The number of accounts with no interest is calculated by finding all accounts with zero interest.Example for N=4Enter the amount for account number 1: 500The interest for account number 1 is $0Enter the amount for account number 2: 2000The interest for account number 2 is $50Enter the amount for account number 3: 10000The interest for account number 3 is $500Enter the amount for account number 4: 12000The interest for account number 4 is $960â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€“Interest Detailsâ€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€“Total Interest: $1510Lowest Interest: $0Highest Interest: $960Average Interest: $377.5Number of accounts with no interest: 1â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”â€”-Your application is to follow the same format for input and output as in the example above but with customised welcome and exit messages.The application is to use the following classes.public class Account{public Account(){// constructor}public double interest(int amount){// code to calculate interest goes here}public int interestType(double interest){// code to determine accounts with no interest goes here}}public class AccountTest{public static void main(String[] args){// local variable declarations go here// display welcome message// loop to input amount calculate and display interest calculate summary values// generate and display summary// display exit message}}SubmissionYou must submit the following three files using the Moodle online submission system. Account.java AccountTest.java Report.docx (this file contains a brief report that includes student name student ID number coursename course code and test results (screenshots/test cases with results to show that your application isworking correctly))Important Note You should start your assignment as early as possible. Your tutor will be checking your progress inweeks 4 and 5. You should not show your source code and report to any other student. You should not ask anyone to doyour assignment. Please read CQUs plagiarism guidelines.Marking CriteriaCriteria MarksAllocated1 Variables constants and typesDeclaring and using variables and constants /22 Objects and classesCreating/declaring and using objects and classes /13 LoopsUsing loops and conditions /14 If statementsUsing if statements and conditions /15 MethodsDeclaring and using methods /26 Inputs and OutputsReading input /1Displaying results /17 Overall logic and programCalculating quantities (0 mark if program doesnt compile) /5Spacing and indentation conventions /1Naming conventions /1Comments /18 ReportTest results (0 mark if program doesnt compile) /2Presentation(fonts spaces information language) /1Sub-Total /20PenaltiesLate submission : 5% (1 mark) / day or part of a dayTotal /20