In 1983 the average tuition for one year at an Ivy League school was $11,800. Thirty years later, in 2013, the average cost was $23,700. What was the growth rate in tuition over the 30-year period? (Select the percentage to the nearest whole number

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
icon
Related questions
Question

In 1983 the average tuition for one year at an Ivy League school was $11,800. Thirty years later, in 2013, the average cost was $23,700. What was the growth rate in tuition over the 30-year period? (Select the percentage to the nearest whole number

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax