Rate of Inflation The annual rate of inflation is the rate at which money loses its value. For example, if the annual rate of inflation is 3.0%, then in one year it will cost $1030 to buy the goods...

Rate of Inflation

The annual rate of inflation is the rate at which money loses its value. For example, if

the annual rate of inflation is 3.0%, then in one year it will cost $1030 to buy the

goods that could have been purchased for $1000 today. Put another way, a year from

now $1000 will only buy 1/1.03 * $1000, or $970.87, worth of goods. Two years from

now $1000 will only buy only 1/1.03 of $970.87, or $942.59 worth of goods. Write a

program that allows the user to enter an annual rate of inflation between 1% and

15%, and which then reports how much $1000 today will be worth each year for the

next 10 years.