Question

It is difficult to make a budget that spans several years, because prices are not stable. If your company needs 200 pencils per year. you cannot simply use this

year's price as the cost of pencils two years from now. Because of inflation the cost is likely to be higher than it is today. Write a program to gauge the expected

cost of an item in a specified number of years. The program ask for the cost of the item , the number of years from now that the item will be purchased, and the

rate of inflation. The program then outputs the estimated cost of the item after the specified period. Have the user inter the inflation rate as a percentage, such

as 5.6 (percent). Your program should then convert the percentage to a decimal fraction, such as as 0.056, and should use a loop to estimate the price adjusted

for inflation, (Hint: Use a loop.)        

Make the following changes to the program.

1.Ask the user the name of the item to be used in the calculations.

2. The output should look like this:

The (name of the item) costs (present cost) now.

The (name of the item) will cost (future cost) in (number of years) years.

Run the program with the following information.

The item is a car.

The present cost is $25,000.

The number of years is 10.

The inflation rate is 8%.

Write program in C++

Answer 1

PLEASE REFER BELOW CODE

#include<iostream>
#include<string>

using namespace std;

int main()
{
    double expected_cost,inflation_rate,cost;
    int years;
    string name;

    //user input name of item
    cout<<"Enter item name : ";
    cin>>name;

    //user input present cost
    cout<<"Enter present cost : $";
    cin>>cost;

    //user input inflation rate
    cout<<"Enter inflation rate : ";
    cin>>inflation_rate;

    //user input number of years
    cout<<"Enter number of years : ";
    cin>>years;

    //converting inflation rate into decimal
    inflation_rate = inflation_rate / 100;

    //initial value of expected cost
    expected_cost = cost;
    //for each year we have to add (current cost x inflation rate) to present cost
    for(int i = 0; i < years; i++)
    {
        expected_cost += (cost * inflation_rate);
    }
    //display results
    cout<<"The "<<name<<" costs $"<<cost<<" now."<<endl;
    cout<<"The "<<name<<" will cost $"<<expected_cost<<" in "<<years<<" years."<<endl;
    return 0;
}

PLEASE REFER BELOW OUTPUT