In 2009, Internationale Outstanding University (IOU) had an enrollment of 27,431 undergraduates, each of whon paid $6,254 per year in tuition. In 2010, enrollment was 27,242 students, and tuition was raised 2.8%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 26,971 students. In 2012, it is estimated that tuition will be $7,050 and IOU needs to receive 4.7% more total revenue from tuition than in 2011. How many students must IOU enroll to meet the 2012 revenue goal? PS1 1 0 students 3 4 5 6 7 8 SUBMIT ANSWER EXIT CALCU 2012ra
In 2009, Internationale Outstanding University (IOU) had an enrollment of 27,431 undergraduates, each of whon paid $6,254 per year in tuition. In 2010, enrollment was 27,242 students, and tuition was raised 2.8%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 26,971 students. In 2012, it is estimated that tuition will be $7,050 and IOU needs to receive 4.7% more total revenue from tuition than in 2011. How many students must IOU enroll to meet the 2012 revenue goal? PS1 1 0 students 3 4 5 6 7 8 SUBMIT ANSWER EXIT CALCU 2012ra
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:In 2009, Internationale Outstanding University (IOU) had an enrollment of 27,431 undergraduates,
each of whom paid $6,254 per year in tuition. In 2010, enrollment was 27,242 students, and tuition
was raised 2.8%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was
26,971 students. In 2012, it is estimated that tuition will be $7,050 and IOU needs to receive 4.7%
more total revenue from tuition than in 2011.
How many students must IOU enroll to meet the 2012 revenue goal?
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CALCULATED VARIABLES:
2012rev = 195.6
11g = 0.077 (7.7%)
11t = $6,926
10t = $6,429
growth=-189
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