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Growth rate in tuition fee

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Say in 1958 the average tuition for one year at an Ivy league school was $1,800. 13 years later, in 1988, the average cost was $13,700. What was the growth rate in tuition over the 30-year period?

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Solution Summary

The solution explains how to calculate the growth rate in tuition fee

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The growth rate can be determined using the FVIF table
An amount of $1,800 has become 13,700 in 20 years. We can ...

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