Question
Lottery jackpot winners usually elect to take a lump sum payment of their winnings, on which they pay federal taxes and receive the rest. Design
Lottery jackpot winners usually elect to take a lump sum payment of their winnings, on which they pay federal taxes and receive the rest. Design a lottery calculator program that:
a. Allows the user enter the
1. Lump sum payment of the winnings
2. The percentage tax to be paid on those
3. The user will invest the remaining money received, so allow them to enter the percentage return they expect to get each year on their investment.
4. The average life expectancy of the user (up to what age they expect to live)
5. The user's current age
6. How much money they expect to spend each year.
b. Calculates and outputs
1. The amount of money the user will receive from the lottery after taxes
2. A yearly schedule that shows
i The year number
ii How much money their investment earned that year
iii How much money will remain after their expenses for that year
3. Outputs this yearly schedule until the user reaches their expected age from (a)(4) above or their money runs out.
It's for a intro to computerlogic class CIT 120 so I guess the most basic code please and thank you.
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