purchase_price = 75% * (after_repair_value) - repair_expenses

In this formula, after_repair_value is the price that you can sell your home AFTER it is all fixed up.

Example: You see an older home on the market that is visibly rundown and needs repair, and the current market price is: $160,000 "as is." After you assess the damage, you estimate it will require $25,000 repair expenses. Homes of the same size in the neighborhood have been selling for $220,000 in "move-in, turn-key condition." You would need to buy the home for $140,000 to make it a worthwhile investment. (75 percent of $220,000 = $165,000. $165,000 minus $25,000 = $140,000.)

Write the following functions.

• Write a function def purchase_price(ARV, repair_expenses) that has 2 parameters:
  • ARV is after_repair_value, is the price that you can sell your home AFTER it is all fixed up
  • repair_expenses - amount of dollars to repair the house

    The function will use the the formula written below to calculate the purchase price:

    purchase_price = 75% * (after_repair_value) - repair_expenses

    The function returns the purchase price

• Write a function def process(size), size is the number of houses the customer consider for purchasing. The function reads after_repair_value and repair_expenses for each house, and the current market price for the house. The function then calls function purchase_price to calculate the price that investor should pay for the house to make it worthwhile investment. The function returns the number of houses that worthwhile investment and the number of houses that priced too high on the current market. FOR TESTING PURPOSES, PRINT the purchasing price for EACH house
• Write main program that randomly generates the number of houses customer cosider for investment, assume that the size is between 3 and 15 and call function process to find the number of houses that worthwhile an investment and the number of houses that are priced too hight on the current market.
• TEST YOUR PROGRAM and DOCUMENT TEST INPUT/OUTPUT values