Final answer:
To estimate the cost of tuition and fees in the 2024-2025 academic year, we find the rate of increase per year from the given information. Then, we apply this rate of increase to the current cost to estimate the cost in 2024-2025, which is $11,300.
Step-by-step explanation:
To estimate the cost of tuition and fees in the 2024-2025 academic year, we need to find the rate of increase per year and then apply it to the current cost.
From the given information, the cost increased from $9,500 in 2015-2016 to $10,500 in 2020-2021.
To find the rate of increase per year, we subtract the initial cost from the final cost and divide it by the number of years.
(Final Cost - Initial Cost) / Number of Years = Rate of Increase per Year
($10,500 - $9,500) / (2020 - 2015) = $1,000 / 5 = $200
Now, we can apply this rate of increase to the current cost to estimate the cost in 2024-2025 academic year.
Current Cost + (Rate of Increase per Year * Number of Years) = Estimated Cost in 2024-2025
$10,500 + ($200 * 4) = $10,500 + $800
= $11,300
Therefore, the estimated cost of tuition and fees in the 2024-2025 academic year is $11,300.