﻿ # Write a program that deals with inflation, the rising cost of general goods # over time. Recall that the price of goods, such as a bag of Cheetos,… - Essay solutions

## # Write a program that deals with inflation, the rising cost of general goods # over time. Recall that the price of goods, such as a bag of Cheetos,…

# Write a program that deals with inflation, the rising cost of general goods# over time.  Recall that the price of goods, such as a bag of Cheetos, goes up# as time goes by. You will write a program to gauge the expected cost of an# item in a specified number of years. The program asks for the cost of the# item, the number of years, and the rate of inflation. The output is the# estimated cost of the item after that number of years, using the given# inflation rate.## The user enters the inflation rate as a percentage, for example 4.5. You will# have to convert the percentage to a fraction (0.045 in this example), and then# use a loop to estimate the item’s price adjusted for inflation. Note that this# is similar to computing compound interest on a credit card account or a# mortgage. Also note that you must check each of the values provided by the# user to make sure that they are reasonable.  The original cost must be# positive, and both the inflation rate and number of years should be# non-negative.  You can assume that the original cost and inflation will be# floats and the number of years will be an integer.  Finally, your program must# print out the final cost with exactly two places after the decimal (for the# cents).## To adjust the price for inflation, you need to increase the price by the# inflation rate each year. For example, if you have an item that is initially# \$10, with an inflation rate of 10%, the adjusted prices will be:## After 1 year: \$10.00 ∗ (1 + 0.10) = \$11.00# After 2 years: \$11.00 ∗ (1 + 0.10) = \$12.10# After 3 years: \$12.10 ∗ (1 + 0.10) = \$13.31# …## In other words, to calculate the price after another year, you have to use the# value from the current year, NOT the original price. You must use a loop to do# this.## Your input and output messages must conform to the following examples (note# that \$ in the original cost prompt is printed by the program, not typed by the# user):## Enter the original cost: \$0# Original cost must be positive!## Enter the original cost: \$10# Enter the inflation rate (%): -0.1# Inflation rate must be at least zero!## Enter the original cost: \$10# Enter the inflation rate (%): 0# Enter the number of years: -1# Number of years must be at least zero!## Enter the original cost: \$10# Enter the inflation rate (%): 10# Enter the number of years: 3# Final cost = \$13.31## Note the order of inputs, capitalization of messages, spacing, etc. Computer Science Engineering & Technology Python Programming CSCI 101

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