Question: Create a python program that does the following: Ask users to enter an estimated dollar amount for monthly restaurant bill. Decide the tip amount: Suppose

Create a python program that does the following:

Ask users to enter an estimated dollar amount for monthly restaurant bill.

Decide the tip amount: Suppose that users usually give 18% tips, calculate the corresponding tips for the estimated monthly restaurant bill.

Decide the monthly IRA investment: Add the tips to the monthly restaurant bill and the total will be the monthly IRA investment.

Ask users to enter the number of years that they plan to save (invest) in this way.

Suppose that you use 5% as the annual interest rate. Calculate the future value of this investment (of savings from restaurant bill) using this formula:

futureValue = monthlyInvestment *[(1+r)^N-1]/r,

whereN= number of investment periods, andr= interest rate per period. Since users invest monthly, hereN= number of years *12andr= annual interest rate/12. Feel free to define variables to represent N and r to simplify the formula entry.Please follow the name convention and python rules to properly name the variables, i.e., do not copy the names literately from the formula.

Display a message specifying the monthly restaurant bill, tip, and total saving per month and informing users of the future value of their investment. You should write the output message using variables and customized Strings.

Fix any syntax errors and test your code if you can. For a $100 monthly restaurant bill, 18% tip rate, 1-year IRA saving at 5% annual rate, the future value will be 1448.9.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!

While going over your expenses, your financial adviser noticed that you have been eating out too often lately. He suggests that you cut down your restaurant bill and put the money saved into your IRA...

Hello Chegg experts, I'm a relatively new coder and the following Java program my teacher wants us to put together in NetBeans is beyond what she has taught so far: I'm at a total loss of how to put...

Administrative Law 5 A dministrative law governs and defines the powers of government agencies. A number of political and technological factors have led to an explosion in the growth of government...

1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...

Controller, Judy Koch, in a recent speech said, "I rarely see a real variable cost or a truly fixed cost." What did she mean? Include in your response an explanation of the difference in behavior of...

Step 1:Read UberPricing Strategies and Marketing Communications Step 2:Answer the following questions in a discussion How did Uber achieve its present position? (e.g., How are users recruited? What...

Hi. I need Chapter 11 part 1-4 Let me know. Thanks! (it wont letme add more than $8, but I will give $12+ tip) Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK...

Tax Return #3Schedule A John and Susie Ryan are married and file a joint return. John's social security number is 412-34-5670 and his date of birth is May 12, 1976. Susie's social security number is...

A partial summary of the payroll data for Victoria Manufacturing Co. for each week of June is as follows: a. Compute the missing amounts in the summary, assuming that no employees have reached the...

Difficulty 3 Level: Starting with the setup shown below, add up to ten additional charges to obtain a goal without leaving the screen. ] O Puck is Positive Start Reset Tries: 1 Pause Clear Trace...

15. Differentiate between a fixed-rate mortgage and a variable-rate mortgage.

two-part question, please answer both parts and show work. Thank You! Required information (The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak...

15-2 What are the alternative strategies for developing global businesses?

14-17 Identify and describe two methods for helping managers select information systems projects.

14-18 Compare the two major types of planning and control tools.