! Required information For many years, college costs ( including tuition, fees, and room and board) increases have been higher than the inflation rate, averaging 5% to 8% per year. According to the College Board's Trends in College Pricing, the average total costs at present in dollars is $19,500 for students attending in-state four- year public colleges and universities and $41,500 for students at four-year private colleges and universities. Assume an additional $4,900 per year for textbooks, supplies, transportation, and other expenses. Using a 7% per year inflation rate, how much can a sophomore high school student expect to spend on in-state tuition, fees, and room and board for the freshman year ( 3 years from now) at a four-year public university? ( Round the final answer to three decimal places.) A sophomore high-school student is expected to spend $ for the freshman year. Required information For many years, college costs (including tuition, fees, and room and board) increases have been higher than the inflation rate, averaging 5% to 8% per year. According to the College Board's Trends in College Pricing, the average total costs at present in dollars is $19,500 for students attending in-state four-year public colleges and universities and $41,500 for students at four-year private colleges and universities. Assume an additional $4,900 per year for textbooks, supplies. transportation, and other expenses. Using a 7% per year inflation rate, how much can a sophomore high-school student expect to spend on in-state tuition, fees, and room. and board for the freshman year (3 years from now) at a four-year public university? (Round the final answer to three decimal places.) A sophomore high-school student is expected to spend $ [29891.049 for the freshman year.
! Required information For many years, college costs ( including tuition, fees, and room and board) increases have been higher than the inflation rate, averaging 5% to 8% per year. According to the College Board's Trends in College Pricing, the average total costs at present in dollars is $19,500 for students attending in-state four- year public colleges and universities and $41,500 for students at four-year private colleges and universities. Assume an additional $4,900 per year for textbooks, supplies, transportation, and other expenses. Using a 7% per year inflation rate, how much can a sophomore high school student expect to spend on in-state tuition, fees, and room and board for the freshman year ( 3 years from now) at a four-year public university? ( Round the final answer to three decimal places.) A sophomore high-school student is expected to spend $ for the freshman year. Required information For many years, college costs (including tuition, fees, and room and board) increases have been higher than the inflation rate, averaging 5% to 8% per year. According to the College Board's Trends in College Pricing, the average total costs at present in dollars is $19,500 for students attending in-state four-year public colleges and universities and $41,500 for students at four-year private colleges and universities. Assume an additional $4,900 per year for textbooks, supplies. transportation, and other expenses. Using a 7% per year inflation rate, how much can a sophomore high-school student expect to spend on in-state tuition, fees, and room. and board for the freshman year (3 years from now) at a four-year public university? (Round the final answer to three decimal places.) A sophomore high-school student is expected to spend $ [29891.049 for the freshman year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:! Required information For many years, college costs (
including tuition, fees, and room and board) increases
have been higher than the inflation rate, averaging 5%
to 8% per year. According to the College Board's Trends
in College Pricing, the average total costs at present in
dollars is $19,500 for students attending in-state four -
year public colleges and universities and $41,500 for
students at four-year private colleges and universities.
Assume an additional $4,900 per year for textbooks,
supplies, transportation, and other expenses. Using a
7% per year inflation rate, how much can a sophomore
high school student expect to spend on in-state
tuition, fees, and room and board for the freshman year
( 3 years from now) at a four-year public university? (
Round the final answer to three decimal places.) A
sophomore high - school student is expected to spend $
for the freshman year.
Required information.
For many years, college costs (including tuition, fees, and room and board) increases have been higher than the inflation
rate, averaging 5% to 8% per year. According to the College Board's Trends in College Pricing, the average total costs at
present in dollars is $19,500 for students attending in-state four-year public colleges and universities and $41,500 for
students at four-year private colleges and universities. Assume an additional $4,900 per year for textbooks, supplies.
transportation, and other expenses.
Using a 7% per year inflation rate, how much can a sophomore high-school student expect to spend on in-state tuition, fees, and room
and board for the freshman year (3 years from now) at a four-year public university? (Round the final answer to three decimal places.)
A sophomore high-school student is expected to spend $ 29891.049 for the freshman year.
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