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We unrealistically assumed that your salary did not change. As you are Deakin Master student, clearly you will receive a raise on your salary with
We unrealistically assumed that your salary did not change. As you are Deakin Master student, clearly you will receive a raise on your salary with time! So we are going to build on your solution to question 2.1 by factoring in a raise every 12 months. In order to program it with a salary raise, you need to have additional input annual_raise (as a decimal percentage). We will assume your salary will raise every 12 months with your input percentage and calculate how many months it will take you save up enough money for a down payment. Like before, assume that your investments earn a return of r = 0.04 (or 4%) and the required down payment percentage is 0.15 (or 15%). Have the user enter the following variables and return the months you need to save The starting annual salary (annual_salary). The portion of salary to be saved (portion_saved). The cost of your dream home (total_cost). The annual salary raise (annual_raise)
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