Create a Python script file in IDLE called gymfees.py and write a script that addresses the following problem:

Membership at Southeast Gym is currently $1200 per year. It has been announced that the membership fee will increase by 2 percent each year for the next 5 years. Write a program with a for loop that displays the projected membership fee for the next 5 years. Use two variables: x for the target variable, and fee to hold the changing fee value. The program should print out the result in the form (dont worry about the decimal places):

In 1 year, the fee will be $1224.0.

In 2 years, the fee will be $1248.48.

In 3 years, the fee will be $1273.4496000000001.

In 4 years, the fee will be $1298.9185920000002.

In 5 years, the fee will be $1324.8969638400004.

Hints: For the year one sentence (shown above) note that the word year is singular. This can be done with an if/else nested inside the for loop.