Concept explainers
Write an equation for the amount of tuition t years after 2010 and to predict the cost of tuition for the college in year 2025.
Answer to Problem 4GP
The equation for the amount of tuition t years after 2010 is
The cost of tuition for this college in year 2025 is $22556.
Explanation of Solution
Given information:
Initial cost of tuition in 2010 is $10,850.
Growth rate of tuition is 5% each year.
Calculation:
We know the exponential function equation is
Also
We got,
Initial value
Growth factor
Plugging the value of a and b in exponential function equation
Therefore, the equation for the amount of tuition t years after 2010 is
For year 2025 the value of t is
Now, plugging the value t =15 in equation
Therefore, the cost of tuition for this college in year 2025 is approximately $22556.
Chapter 7 Solutions
Algebra 1, Homework Practice Workbook (MERRILL ALGEBRA 1)
Additional Math Textbook Solutions
College Algebra
College Algebra
Linear Algebra and Its Applications (5th Edition)
College Algebra (7th Edition)
A First Course in Probability
- Algebra and Trigonometry (6th Edition)AlgebraISBN:9780134463216Author:Robert F. BlitzerPublisher:PEARSONContemporary Abstract AlgebraAlgebraISBN:9781305657960Author:Joseph GallianPublisher:Cengage LearningLinear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
- Algebra And Trigonometry (11th Edition)AlgebraISBN:9780135163078Author:Michael SullivanPublisher:PEARSONIntroduction to Linear Algebra, Fifth EditionAlgebraISBN:9780980232776Author:Gilbert StrangPublisher:Wellesley-Cambridge PressCollege Algebra (Collegiate Math)AlgebraISBN:9780077836344Author:Julie Miller, Donna GerkenPublisher:McGraw-Hill Education