Question

Programming Challenges 147 16. Senior Citizen Property Tax Madison County provides a $5,000 homeowner exemption for its senior citizens. For example, if a senior's house is valued at $158,000, its assessed value would be $94,800, as explained above. However, he would only pay tax on $89,800. At last year's tax rate of $2.64 for cach $100 of assessed value, the property tax would be $2,370.72. In addition to the tax break, senior citizens are allowed to pay their property tax in four equal payments. The quarterly payment due on this property would be $592.68. Write a program that asks the user to input the actual value of a piece of property and the current tax rate for each $100 of assessed value. The program should then calculate and report how much annual property tax a senior homeowner will be charged for this property, and what the quarterly tax bill will be. 17. Math Tutor Write a program that can be used as a math tutor for a young student. The program should display two random numbers to be added, such as 247 +129 The program should then pause while the student works on the problem. When the student is ready to check the answer, he or she can press a key and the program will display the correct solution: 247 +129 376 18. Interest Earned Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as Amount = Principal x (1 + Rate Principal is the balance in the savings account, Rate is the interest rate, and T is the number of times the interest is compounded during a year (T is 4 if the interest is compounded quarterly. Write a program that asks for the principal, the interest rate, and the number of times the interest is compounded. It should display a report similar to: Interest Rate: 4.25% Times Compounded: 12 Principal: $ 1000.00 Interest $ 43.34 Amount in Savings: $ 1043.34 19. Monthly Payments The monthly payment on a loan may be calculated by the following formula: Payment Rate x (1 + Rate) ((1+ Rate)-1) XL

Number 16. Chapter 3 Problem Comes from "Starting out with >>> C++ From Control Structures through Objects" Ninth Edition. Checking work

Answer 1

Since the formula for assessed value is not clear in question, I assumed it to be 60% of actual value.

Below is the code:

#include <iostream> 
using namespace std;

int main()
{
        float actual_value, assessed_value, payable, tax_rate = 2.64;
        float total_tax, quarterly_tax;
        cout<<"Enter the actual value of property in dollors : ";
        cin>>actual_value;
        
        assessed_value = actual_value * 0.6;   //Assumed formula for assessed value
        cout<<"Assessed Value is : "<<assessed_value<<"$";
        
        payable = assessed_value - 5000;
        cout<<"\nTax has to be paid on "<<payable<<"$";
        
        total_tax = payable * (2.64/100);
        quarterly_tax = total_tax / 4;
        cout<<"\nTotal yearly tax is : "<<total_tax<<"$";
        cout<<"\nQuarterly tax is : "<<quarterly_tax<<"$";
}