Question

The function y=15,000(1.10)xmodels the cost of annual tuition at a local college, x years after 2000. How much will tuition be in 2025?

Answer 1

Answer:
`162,520.588`

Explanation:

Given

The function
`y=15,000(1.1)^x` models the cost of tuition fees after year 2000

In year 2025 that is 25 years after 2000, fees can be given as

`\Rightarrow y=15,000(1.1)^(25)\\\Rightarrow y=15,000* 10.834\\\Rightarrow y=162,520.588`

Thus, the fees in year 2025 is
`162,520.588`.