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jeyben [28]
3 years ago
12

The average annual tuition for four-year private colleges increased by 5.9 percent from last year. The average cost last year wa

s $31,250. What is the average cost this year?
Mathematics
1 answer:
monitta3 years ago
3 0

Answer:

The average cost this year = $33,093.75

Step-by-step explanation:

The computation of the average cost this year is shown below:

Given that

The average cost for the last year = $31,250

Increased percentage = 5.9%

Based on the above information, the average cost this year is

= The average cost for the last year × (1 + Increased percentage)

= $31,250 × (1 + 0.059)

= $31,250 × 1.059

= $33,093.75

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