[SOLVED] S308 Assignment 3 Retirement Plan

S308 Assignment 3 Retirement Plan
A retirement plan (e.g. 401(k)) can be one of your best tools for creating a secure retirement. All contributions and earnings to your 401(k) are tax deferred. You only pay taxes on contributions and earnings when the money is withdrawn. If you invest a certain amount of money and reinvest the return, you get additional return on top of the return. This is called compounding. For details, please see a Wikipedia article about compounding here: http://en.wikipedia.org/wiki/Compound_interest
The formula to calculate the amount you will have by the end of the nth year of your investment is:
Where FV and PV are future and present values and i is the interest rate. For example, if you deposit $1,000 into an account with an annual interest rate of 5%, you will have $1000.00 * (1 + 0.05)1 = $1,050.00 at the end of the year. If you keep all $50 of the return in the account, it will earn interest in the second year and you will have $1000.00 * (1 + 0.05) 2 = $1102.50 at the end of the second year.
Your task in this assignment is to create a retirement plan calculator. The calculator should allow the user to enter the following information: annual salary, annual contribution %, current age, retired age, and annual return %.
(1) Eachyear,anindividualwouldcontributethefollowingamount:AnnualSalaryxContribution%. (2) CurrentAgeisthestartingyearoftheinvestment.
(3) RetiredAgeistheendingyearoftheinvestment.
(4) Annualreturnisthepercentageofexpectedreturn(annualinterestrate).
The screenshot below provides a general example for this assignment and is provided to better understand the functional requirements. It is meant to be a guide for how to design your form and you are encouraged to make the design your own.
Important!
This is an individual assignment. Students are NOT allowed to work together or seek help from anyone else including current and former S308 students. Any questions about the assignment should be sent to the instructor. Anyone found to have received help from another person will receive a zero (0) for the assignment and will be reported for academic misconduct.
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Requirements:
All the input should not be empty.
Current Age, Retired Age should be validated as numbers.
o The values should be between 1 and 120.
o Retired Age should be greater than Current Age.
Annual salary should be validated as a double number, and should not be negative.
Contribution %, and return % should be validated as double number. The value should be
between 0 and 1.
You need to properly display your output. You can use the String.PadRight(n) function or just
add spaces. You can also consider adding tab (t) among all the columns.
The output values should be evenly spaced and formatted as in the screenshot provided.
Your output should contain the following information
o Year: staring from 2019.
o Age: starting from current age, end in the retired age.
o Accumulated principal: sum of contribution.
o Start balance: last years end balance + new contribution.
o Accumulated interest: sum of interest.
o End balance: current years staring balance x (1+ return rate).
You must use a loop to solve this problem. Grading Notes:
All applicable grading criteria from previous assignments will be applied to this assignment. Including but not limited to:
o Name you file ****_A3.zip where **** is your IU Username
o Include proper comments in your code, and thoroughly test all output.
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