*= operator

[Cai Gengyang]

This is a piece of code that calculates tax and tip :

def tax(bill):
    """Adds 8% tax to a restaurant bill."""
    bill *= 1.08
    print "With tax: %f" % bill
    return bill

def tip(bill):
    """Adds 15% tip to a restaurant bill."""
    bill *= 1.15
    print "With tip: %f" % bill
    return bill
    
meal_cost = 100
meal_with_tax = tax(meal_cost)
meal_with_tip = tip(meal_with_tax)

Does bill *= 1.08 mean bill = bill * 1.15 ?