(Solved) : Assignment Individual Retirement Account Ira Special Bank Brokerage Account Person Use Sav Q30062537 . . . .

Assignment

An Individual Retirement Account (IRA) is a special bank /brokerage account that a person can use to save money forretirement. An individual can put up to $5,500 per year tax freeand the money grows tax free until the person is ready to retire.The tax rules related to IRA’s are complex, but for thisassignment, we’ll assume that the person puts in the same amount ofmoney every year (up to $5,500) and the money grows at a constantinterest rate.

Write a Flowgorithm program that asks the user to input anannual IRA contribution (in dollars), and interest rate (percent),and a time period (years). Calculate