lab 4 flowgorithm
Needs to be done in Flowgorithm and I will attach the sheet that shows the example output information.
Lab 4 – Individual Retirement Account Calculation
Assignment
An Individual Retirement Account (IRA) is a special bank / brokerage account that a person can use to save money for retirement. An individual can put up to $5,500 per year tax free and the money grows tax free until the person is ready to retire. The tax rules related to IRAâ€
s are complex, but for this assignment, weâ€ll assume that the person puts in the same amount of money every year (up to $5,500) and the money grows at a constant interest rate.
Write a Flowgorithm program that asks the user to input an annual IRA contribution (in dollars), and interest rate (percent), and a time period (years). Calculate the value of the IRA every year for the duration of the time period provided by the user.
Be sure and provide user friendly prompts. Include a comment at the beginning of the program with your name, date, and a short description of the program.
Example Output
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