Design a program for Jones College. The current tuition is $12,000 per year, and tuition is expected to increase by 5 percent each year. Display the tuition amount for each year over the next five years (use a looping structure). Hint: You will need to use two assignment statements for calculating purposes. One will be an accumulating total assignment statement.

current_tuition = 12000

for year in range (1, 6):

increase_in_tuition = current_tuition * 0.05

current_tuition + = increase_in_tuition

print ("The tuition amount after " + str (year) + ". year: " + str (current_tuition))

Explanation:

*The code is in Python

Set the current tuition as 12000

Create a for loop that iterates 5 times

Inside the loop, calculate the increase in tuition. Add the increase in tuition value to the current tuition and print the current tuition.