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.