Assume you and your future employer each contribute HKD 1,500 to your Mandatory Provident Fund (MPF)...

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Assume you and your future employer each contribute HKD 1,500 to your Mandatory Provident Fund (MPF) account at the end of every month. Suppose it is the beginning of your first month at the company, and the beginning MPF account balance is zero. Assume the return is compounded monthly, and the monthly rate of return is 0.17%. Write a Python program to calculate the time for the MPF to achieve a target balance. 1) Let the user set the target balance. 2) Display the minimum number of years and months for the MPF account to reach the target amount. 3) Use a while loop. The output should resemble the following. Upload the .py file and the output screenshot to Canvas. Enter the target balance for your MPF: 2500000 It will take at least 43 year(s) and 4 month(s) for the MPF to reach 2500000. Press ENTER to exit. Hint: You may refer to Classwork 2 to see how the future value of an ordinary annuity is calculated. You do not need to use the formula there only need to understand the iterative process. - Assume you and your future employer each contribute HKD 1,500 to your Mandatory Provident Fund (MPF) account at the end of every month. Suppose it is the beginning of your first month at the company, and the beginning MPF account balance is zero. Assume the return is compounded monthly, and the monthly rate of return is 0.17%. Write a Python program to calculate the time for the MPF to achieve a target balance. 1) Let the user set the target balance. 2) Display the minimum number of years and months for the MPF account to reach the target amount. 3) Use a while loop. The output should resemble the following. Upload the .py file and the output screenshot to Canvas. Enter the target balance for your MPF: 2500000 It will take at least 43 year(s) and 4 month(s) for the MPF to reach 2500000. Press ENTER to exit. Hint: You may refer to Classwork 2 to see how the future value of an ordinary annuity is calculated. You do not need to use the formula there only need to understand the iterative process. -

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