Question

cost to complete a degree at a private college in four years? Reference Page: 132 IN THE NEWS College Tuition Up Again College gets more expensive-again. Tuition at public fouryear 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 fouryear 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 2012-2013 and 8.5 percent in 2011-2012. Tuition prices have been outpacing general inflation rates for many years. Suo The College Board ANALYSİS: Tuition increases reduce te real income of students. How much you suffer from inflation depends on what happens to the prices of the products you purchase.

Answer 1

Annual rate of increase for private colleges in 2013-14 = 2.9%

Time = 4 years

Private college tuition fee in four year = 30094*(1+2.9%)^4

Private college tuition fee in four year = $33739.72