Question

In: Computer Science

Using Python Write a program that does the following in order: 1.     Asks the user to enter...

Using Python

Write a program that does the following in order:

1.     Asks the user to enter a name

2.     Asks the user to enter a number “gross income

3.     Asks the user to enter a number “state tax rate

4.     Calculates the “Federal Tax”, “FICA tax” and “State tax

5.     Calculates the “estimated tax” and round the value to 2 decimal places

6.     Prints values for “name”, “gross income” and “estimated tax

The program should contain three additional variables to store the Federal tax, FICA tax, State tax, gross income, and estimated tax.

Federal Tax = gross income * 9.45%

FICA Tax = gross income * 7.65%

State Tax = gross income * your state tax percent

Estimated Tax = Federal tax + FICA tax + State tax

NOTE: Percentages must be converted to decimal values, for example:

            15.9%=15.9*0.01=0.159

An example of the program’s input and output is shown below:

Enter your name: Belinda Patton

Enter your gross income: 53398.12

Enter your state income tax rate: 4.27

Belinda Patton’s estimated tax is $11411.08 based on a gross income of $53398.12

Solutions

Expert Solution

I WROTE THE CODE ALONG WITH THE COMMENTS

CODE:

#scan input.
name=input("Enter your name: ")
gross_income=float(input("Enter your gross income: "))
tax_rate=float(input("Enter your state income tax rate: "))

federal_tax=gross_income*(9.45*0.01) #calculate federal_tax
fica_tax=gross_income*(7.65*0.01) #calculate fica_tax
state_tax=gross_income*(tax_rate*0.01) #calculate state_tax

estimated_tax=federal_tax+fica_tax+state_tax //calculate estimated_tax

#print results
print(name+"'s estimated tax is ${:.2f}".format(estimated_tax)," based on a gross income of ${:.2f}".format(gross_income))

OUTPUT:

SCREENSHOT OF THE CODE:


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