Question

A private college's tuition is 37,500

per year, but this figure is expected to rise 10%
per year. The tuition in 3 years
years is calculated using the exponential expression A=37,500(1.1) to the power of 3
Evaluate the equation to determine the cost of tuition in
years.

Answer 1

We may use the following exponential equation to calculate the cost of tuition over three years:

A = 37,500(1.1)^3

A = 37,500(1.331)

A = 49,912.50

As a result, the total cost of tuition for three years is $49,912.50.