Question

Financial Application: Compute Future Tuition: For current Nashua College students the tuition cost for 12 credits is $2112 per semester, with an additional Technology cost of $120 per semester. In addition, Health Insurance costs add an additional $1595 per semester.

            “Scott” is 10 years old (in 2020), and he would like to attend Nashua Community College and major in IT when he turns 18, 8 years from now. If we assume annual costs will increase 5% per year into the foreseeable future, how much $$ will “Scott” need in 2028 to pay for two years at NCC?

            Write a Python program that will create tabular output similar to below:

            Tuition            Technology     Health             Total

Year       Cost                Cost               Insurance        Cost

2020    $n,nnn            $nnnn             $nn,nnn          $nn,nnn

2021    $n,nnn             $nnnn             $nn,nnn          $nn,nnn

…….

…….

2030    $n,nnn            $nnnn             $nn,nnn          $nn,nnn

The total cost for NCC for 2028-2029 will be: $nn,nnn

Answer 1

Here is the Python program:

Tuition = 2112 * 2
Technology = 120 * 2
Health = 1595 * 2

Total = {}
print ("\tTuition\t\tTechnology\tHealth   \tTotal")
print ("\tCost   \t\tCost      \tInsurance\tCost")
for yr in range (2020,2031):
    Total[yr] = Tuition + Technology + Health
    print ("{0:4d}\t${1:,.2f}\t${2:,.2f}\t\t${3:,.2f}\t${4:,.2f}".format (yr, Tuition, Technology,Health, Total[yr] ) )
    Tuition *= 1.05
    Technology *= 1.05
    Health *= 1.05
    
print ("The total cost for NCC for 2028-2029 will be ${0:,.2f}".format(Total[2028] + Total[2029]) )