(Solved Homework): PYTHON CODE ONLY! Given the following assumptions: 1. Call the cost of your dream home total_cost​.

PYTHON CODE ONLY!

Given the following assumptions:

1. Call the cost of your dream home total_cost​.

2. Call the portion of the cost needed for a down payment portion_down_payment​. For simplicity, assume that portion_down_payment = 0.25 (25%).

3. Call the amount that you have saved thus far current_savings​. You start with a current savings of $0.

4. Assume that you invest your current savings wisely, with an annual return of r ​(in other words, at the end of each month, you receive an additional current_savings*r/12​ funds to put into your savings – the 12 is because r​ is an annual rate). Assume that your investments earn a return of r = 0.04 (4%).

5. Assume your annual salary is annual_salary​.

6. Assume you are going to dedicate a certain amount of your salary each month to saving for the down payment. Call that portion_saved​. This variable should be in decimal form (i.e. 0.1 for 10%).

7. At the end of each month, your savings will be increased by the return on your investment, plus a percentage of your monthly salary ​(annual salary / 12).

Write a program to calculate how many months it will take you to save up enough money for a down payment. You will want your main variables to be floats, so you should cast user inputs to floats. Your program should ask the user to enter the following variables:

1. The starting annual salary (annual_salary)

2. The portion of salary to be saved (portion_saved)

3. The cost of your dream home (total_cost)

Expert Answer

 ps1.py

annual_salary= float(input(“Enter your annual salary: “))

portion_saved= float(input(“Enter the percent of your salary to save, as a decimal: “))

total_cost= float(input(“Enter the cost of your dream home: “))

increment = float(input(“Enter the semiannual raise, as a decimal: “))

r = 0.04
ms = annual_salary/12
current_saving = 0
months = 0
portion_down_payment = 0.25

down_payment= total_cost*portion_down_payment
counter = 0

while current_saving < down_payment:
if counter is 6:
counter = 0
ms += ms*increment
current_saving = current_saving + (portion_saved*ms) + (current_saving*r/12)
months += 1
counter += 1

print(“Number of Months required for down payment:”, months)

ps2.py

annual_salary= float(input(“Enter your annual salary: “))

portion_saved= float(input(“Enter the percent of your salary to save, as a decimal: “))

total_cost= float(input(“Enter the cost of your dream home: “))

r = 0.04
ms = annual_salary/12
current_saving = 0
months = 0
portion_down_payment = 0.25

down_payment= total_cost*portion_down_payment

while current_saving < down_payment:
current_saving = current_saving + (portion_saved*ms) + (current_saving*r/12)
months += 1

print(“Number of Months required for down payment:”, months)

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