Question
C++ You found an exciting summer job for five weeks. It pays, say, $15.50 per hour. Suppose that the total tax you pay on your
C++
You found an exciting summer job for five weeks. It pays, say, $15.50 per hour. Suppose that the total tax you pay on your summer job income is 14%.
After paying the taxes, you spend 10% of your net income to buy new clothes and other accessories for the next school year and 1% to buy school supplies.
After buying clothes and school supplies, you use 25% of the remaining money to buy savings bonds. For each dollar you spend to buy savings bonds, your parents spend $0.50 to buy additional savings bonds for you.
Instructions
Write a program that prompts the user to enter:
The pay rate for an hour and the number of hours you worked each week.
The program then outputs the following:
Your income before and after taxes from your summer job.
The money you spend on clothes and other accessories.
The money you spend on school supplies.
The money you spend to buy savings bonds.
The money your parents spend to buy additional savings bonds for you.
Current code:
#include
using namespace std;
int main()
{
float payRate;
int hours;
float incomeLeft;
cout << "Enter the pay rate for an hour : ";
cin >> payRate;
cout << " Number of hours you work each week : ";
cin >> hours;
float totalIncome = payRate*hours*5;
float tax = 0.14;
float incomeAfterTax = totalIncome-totalIncome*tax;
incomeLeft = incomeAfterTax;
float clothes = 0.10 * incomeLeft;
incomeLeft = incomeLeft - clothes;
float schoolSupplies = 0.01 * incomeLeft;
incomeLeft = incomeLeft - schoolSupplies;
float savingBonds = 0.25*incomeLeft;
int numberOfdollarsSpend = (int)savingBonds;
cout << "Income before tax " << totalIncome << "$" << endl;
cout << "Income after tax " << incomeAfterTax << "$" << endl;
cout << "The money you spend on clothes and other accessories " << clothes << "$" << endl;
cout << " The money you spend on school supplies " << schoolSupplies << "$" << endl;
cout << "The money you spend to buy savings bonds " << savingBonds << "$" << endl;
cout << "The money your parents spend to buy additional savings bonds for you " << numberOfdollarsSpend*0.50 << "$" << endl;
}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started