Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write a PYTHON program. Use doctrings and comments in the code for explanation to the reader. The last question is used for the program' application.

Write a PYTHON program. Use doctrings and comments in the code for explanation to the reader.
The last question is used for the program' application. image text in transcribed
Part 3: How long will my retirement savings last? Your third calculator will initially perform the same co calculator, but with only one monthly investmenmunt. final balance in the account, it will estimate how long th retirement. Your program will need to prompt for the same vnl only one monthly investment amount), plus the percentage of thas abo investor plans to withdraw in the first year after retirement. Then wn unt. After it compute final write a f retirement (amount, age, retireige, rate, monthly, that adds the monthly investment amount to the balance in the re until the investor reaches his or her retirement age, and then, after retimet withdraws a monthly amount. In the first month after retirement, this should be one-twelth of percentithdrax of the current balance. For every thogei thereafter, the withdrawal amount should increase according to the rate of inflasin assumed to be 3% annually Every month, the interest on the current balance shul compound at a rate of rate /100/12. The function should plot the retiremet account balance over time, and then print the age at which the retirement funds run out. For example, your program output might look like this: tire ment ac aou Initial balance: 10000 Current age: 20 Retirement age: 70 Annual percentage rate of return: 4.2 Nonthly investment: 100 Annual withdrawal % at retirement: 4 Your savings will last until you are 99 years and 10 months old. 300000 250000 200000 10000 20 25 30 4 6o es 70 7S 80 85 90 95 100 Question 4.2.4 How long will your retirement savings les outlined in Question 4.2 (investing $200 per month) and if you follow the plan at retirement unthdraw 4% at retirem

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Database Concepts

Authors: David Kroenke, David Auer, Scott Vandenberg, Robert Yoder

9th Edition

0135188148, 978-0135188149, 9781642087611

More Books

Students also viewed these Databases questions