Answered step by step
Verified Expert Solution
Question
1 Approved Answer
write program in C language using loops Write a program that will assist people in saving for retiremt using a tax-deferred 401k program Your progra
write program in C language using loops
Write a program that will assist people in saving for retiremt using a tax-deferred 401k program Your progra m will read the following inputs as command line arguments. Page 2 An initial starting balance . A monthly contribution amount (we'll assume its the same over the life of the savings plan) An (average) annual rate of return (on the scale 10, 11) An (average) annual rate of inflation (on the scale 0,1]) A number of years until retirement Your program will then compute a monthly savings table detailing the (inflation-adjusted) interest earned each month, contribution, and new balance. The inflation-adjusted rate of return can be computed with the following formula. 1 rate of returrn 1 + inflation rate To get the monthly rate, simply divide by 12. Each month, interest is applied to the balance at this rate (prior to the monthly deposit) and the monthly contribution is added. Thus, the earnings compound month to month Be sure that your program handles bad inputs as well as it can. It should also round to the nearest cent for every figure. Finally, as of 2014, annual 401k contributions cannot exceed $17,500. If the user's proposed savings schedule violates this limit, display an error message instead of the savings table For inputs 10000 500 0.09 0.012 10 your output should look something like the fol lowingStep 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