Question

The annual tuition at a specific college was $20,500 in 2000, and $45,4120

in 2018. Let x be the year since 2000, and y be the tuition. Write an
equation that can be used to find the tuition y for x years after 2000. Use
your equation to estimate the tuition at this college in 2020.

Answer 1

The estimated tuition at this college in 2020 is $51,137.

Step-by-step explanation:

To find the equation to determine the tuition y for x years after 2000, we need to use the given information: the annual tuition in 2000 was $20,500 and it increased to $45,120 in 2018.

Let's calculate the rate of increase per year:

The change in tuition over the number of years is:

(Tuition in 2018 - Tuition in 2000) / (Year in 2018 - Year in 2000) = (45,120 - 20,500) / (2018 - 2000)

Now, we can use this rate of increase to find the tuition in any given year x:

Tuition in a specific year = Tuition in 2000 + (Rate of increase per year) * x

To estimate the tuition in 2020, we substitute x = 20 into the equation:

Tuition in 2020 = 20,500 + ((45,120 - 20,500) / (2018 - 2000)) * 20 = $51,137

Answer 2

Answer: the tuition in 2020 is $502300

Step-by-step explanation:

The annual tuition at a specific college was $20,500 in 2000, and $45,4120 in 2018. Let us assume that the rate of increase is linear. Therefore, the fees in increasing in an arithmetic progression.

The formula for determining the nth term of an arithmetic sequence is expressed as

Tn = a + (n - 1)d

Where

a represents the first term of the sequence.

d represents the common difference.

n represents the number of terms in the sequence.

From the information given,

a = $20500

The fee in 2018 is the 19th term of the sequence. Therefore,

T19 = $45,4120

n = 19

Therefore,

454120 = 20500 + (19 - 1) d

454120 - 20500 = 19d

18d = 433620

d = 24090

Therefore, an

equation that can be used to find the tuition y for x years after 2000 is

y = 20500 + 24090(x - 1)

Therefore, at 2020,

n = 21

y = 20500 + 24090(21 - 1)

y = 20500 + 481800

y = $502300