Future value. Upstate University charges $16,000 a year in graduate tuition. Tuition rates are growing at...

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Future value. Upstate University charges $16,000 a year in graduate tuition. Tuition rates are growing at...

Future value. Upstate University charges $16,000 a year in graduate tuition. Tuition rates are growing at 3.75 each year. You plan to enroll in graduate school in four years. What is your expected graduate tuition in four years?

What is your expected graduate tuition in four years? _______ (Round to the nearest cent.)

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Answer 1

Answer #1


Fees today	16000
Annual increase	3.75%
Time	4	Years

Expected outgo on tution fee	16000*(1+3.75%)^4
Expected outgo on tution fee	18,538

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Answer 2

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