In the News: College Tuition Up Again College gets more expensive – again. Tuiti
ID: 2496532 • Letter: I
Question
In the News: College Tuition Up Again College gets more expensive – again. Tuition at public four-year colleges rose 2.9 percent this year, to an average of $8,893 per year. Out-of-state students pay an average of $22,203 to attend. Private four-year colleges also saw tuition increases of 2.9 percent – to an average of $30,094. These tuition hikes come on the heels of a 4.5 percent jump in 2012-13 and 8.5 percent in 2011-12. Tuition prices have been outpacing general inflation rates for many years.
Explanation / Answer
total cost would be 30094 + 30094*(1.029) + 30094*(1.029)^2 + 30094*(1.029)^3 = 125714.3