Since the university tuition fee increases over the years, you are asked to furt
ID: 3809551 • Letter: S
Question
Since the university tuition fee increases over the years, you are asked to further analyze whether the saving is enough to cover the tuition fee for a 4-year study program. You will help them analyze this for 3 different types University programs: Arts, Science, and Engineering, for which the average tuition fees in the current year are as follows: $5550, $6100, and $6550 respectively. The predicted average percentage of tuition increase each year is 7%. Each year the new fee due to the annual increase is calculated as follows: New cost = Old cost + (Old cost * Annual increase rate)
Calculate the predicted tuition fee per year for the next 22 years, and then add up the fees over the last 4 college years (from the year 19 to year 22) to get the predicted total education cost for a 4-year program. Using matlab
Explanation / Answer
program:
arts=5550;
science = 6100;
engg = 6550;
rate=0.7;
yearbyyearfee=[];
year19to22=[];
for i=1:22
arts=arts*(1+rate);
science=science*(1+rate);
engg=engg*(1+rate);
yearbyyearfee=[yearbyyearfee; arts science engg;];
if(i>=19)
year19to22=[year19to22 (arts+science+engg)];
end
end
disp('index Arts Science Enggineering ');
for i=1:22
sprintf('%d %f %f %f',i,yearbyyearfee(i,1),yearbyyearfee(i,2),yearbyyearfee(i,3))
end
for i=1:4
sprintf('Year %d : Total Fee : %f',(i+18),year19to22(i))
end
Result:
>> fee_for_next_22_year
index Arts Science Enggineering
ans =
1 9435.000000 10370.000000 11135.000000
ans =
2 16039.500000 17629.000000 18929.500000
ans =
3 27267.150000 29969.300000 32180.150000
ans =
4 46354.155000 50947.810000 54706.255000
ans =
5 78802.063500 86611.277000 93000.633500
ans =
6 133963.507950 147239.170900 158101.076950
ans =
7 227737.963515 250306.590530 268771.830815
ans =
8 387154.537975 425521.203901 456912.112385
ans =
9 658162.714558 723386.046632 776750.591055
ans =
10 1118876.614749 1229756.279274 1320476.004794
ans =
11 1902090.245074 2090585.674766 2244809.208150
ans =
12 3233553.416625 3553995.647102 3816175.653855
ans =
13 5497040.808263 6041792.600073 6487498.611553
ans =
14 9344969.374047 10271047.420123 11028747.639641
ans =
15 15886447.935879 17460780.614210 18748870.987389
ans =
16 27006961.490995 29683327.044157 31873080.678562
ans =
17 45911834.534692 50461655.975067 54184237.153555
ans =
18 78050118.708976 85784815.157613 92113203.161044
ans =
19 132685201.805259 145834185.767942 156592445.373774
ans =
20 225564843.068940 247918115.805502 266207157.135416
ans =
21 383460233.217198 421460796.869353 452552167.130207
ans =
22 651882396.469237 716483354.677900 769338684.121352
ans =
Year 19 : Total Fee : 435111832.946975
ans =
Year 20 : Total Fee : 739690116.009858
ans =
Year 21 : Total Fee : 1257473197.216758
ans =
Year 22 : Total Fee : 2137704435.268489