Provide a program that projects yearly income, the amount saved towards retirement each year, and total...
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Provide a program that projects yearly income, the amount saved towards retirement each year, and total retirement savings. Assume a 3 percent raise on the starting income each year, and a 6% yearly return on investment. You will need to ask the user their current age, at what age they want to retire, what their current income is, what percent of their income they save each year, and how much they currently have in savings. You will calculate how many years until retirement, and display the projected income, savings contribution, and total savings each year. Hint: Assume they will enter a whole number for the percent of income saved and divide it by 100 (for 8 percent - 8/100 .08). 1 current age = int(input("How old are you currently? ")) 2 3 current income = float(input("What is your yearly income? ")) 4 5 retirement age = int(input("At what age do you want to retire? ")) savings percentage = float(input("What percent of your income do you save? ")) / 100 current savings = float(input("How much money do you currently have in savings? ")) 6 7 years until retirement = retirement age current_age B 9 10 11 12 13 14 15 16 17 18 19 20 print("This projection assumes a 3% raise each year and a 6% yearly return on investment.") print("Year\tIncome\t\tSavings Contribution\tTotal Savings") income = current income savings contribution = savings percentage * income total_savings = current_savings for year in range(1, years until retirement + 1): print("{year}\t{income:, .2f}\t\t{savings_contribution:, .2f}\t\t\t{total_savings:,.2f}") income *= 1.03 savings contribution = 1.06 total_savings += savings contribution How old are you currently? 50 At what age do you want to retire? 65 What is your yearly income? 100000 What percent of your income do you save? 12 How much money do you currently have in savings? 100000 This projection assumes a 3% raise each year and a 6% yearly return on investment. Year Savings Contribution Total Savings Income 1 100,000.00 12,000.00 100,000.00 2 103,000.00 12,720.00 112,720.00 3 106,090.00 13,483.20 126,203.20 4 109,272.70 14,292.19 140,495.39 5 112,550.88 15,149.72 155,645.12 6 115,927.41 16,058.71 171,703.82 7 119,405.23 17,022.23 188,726.05 8 122,987.39 18,043.56 206,769.61 9 126,677.01 19,126.18 225,895.79 10 130,477.32 20,273.75 246,169.54 11 134,391.64 21,490.17 267,659.71 12 138,423.39 22,779.58 290,439.29 13 142,576.09 24,146.36 314,585.65 14 146,853.37 25,595.14 340,180.79 15 151,258.97 27,130.85 367,311.64 Process finished with exit code Provide a program that projects yearly income, the amount saved towards retirement each year, and total retirement savings. Assume a 3 percent raise on the starting income each year, and a 6% yearly return on investment. You will need to ask the user their current age, at what age they want to retire, what their current income is, what percent of their income they save each year, and how much they currently have in savings. You will calculate how many years until retirement, and display the projected income, savings contribution, and total savings each year. Hint: Assume they will enter a whole number for the percent of income saved and divide it by 100 (for 8 percent - 8/100 .08). 1 current age = int(input("How old are you currently? ")) 2 3 current income = float(input("What is your yearly income? ")) 4 5 retirement age = int(input("At what age do you want to retire? ")) savings percentage = float(input("What percent of your income do you save? ")) / 100 current savings = float(input("How much money do you currently have in savings? ")) 6 7 years until retirement = retirement age current_age B 9 10 11 12 13 14 15 16 17 18 19 20 print("This projection assumes a 3% raise each year and a 6% yearly return on investment.") print("Year\tIncome\t\tSavings Contribution\tTotal Savings") income = current income savings contribution = savings percentage * income total_savings = current_savings for year in range(1, years until retirement + 1): print("{year}\t{income:, .2f}\t\t{savings_contribution:, .2f}\t\t\t{total_savings:,.2f}") income *= 1.03 savings contribution = 1.06 total_savings += savings contribution How old are you currently? 50 At what age do you want to retire? 65 What is your yearly income? 100000 What percent of your income do you save? 12 How much money do you currently have in savings? 100000 This projection assumes a 3% raise each year and a 6% yearly return on investment. Year Savings Contribution Total Savings Income 1 100,000.00 12,000.00 100,000.00 2 103,000.00 12,720.00 112,720.00 3 106,090.00 13,483.20 126,203.20 4 109,272.70 14,292.19 140,495.39 5 112,550.88 15,149.72 155,645.12 6 115,927.41 16,058.71 171,703.82 7 119,405.23 17,022.23 188,726.05 8 122,987.39 18,043.56 206,769.61 9 126,677.01 19,126.18 225,895.79 10 130,477.32 20,273.75 246,169.54 11 134,391.64 21,490.17 267,659.71 12 138,423.39 22,779.58 290,439.29 13 142,576.09 24,146.36 314,585.65 14 146,853.37 25,595.14 340,180.79 15 151,258.97 27,130.85 367,311.64 Process finished with exit code
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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