For 1993-1994, the average cost of tuition and fees at public four-year universities was $2341 for full-time in-state students. twenty years later, it had increased 330 %. to the nearest dollar, what was the approximate cost for 2013-2014?

Question

Angelo Terry

Business

15 September, 13:53

For 1993-1994, the average cost of tuition and fees at public four-year universities was $2341 for full-time in-state students. twenty years later, it had increased 330 %. to the nearest dollar, what was the approximate cost for 2013-2014?

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Answers (1)

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Jaiden Turner · Answer 1

To solve this problem, we must take note of the word "increased by 330%", this means that to get the amount of increase, we multiply the original value with the percentage increase. We know that 330% in percentage is 3.30 in fractional value; therefore we multiply the original tuition with that, so:

Amount of increase = $2,341 * 3.30

Amount of increase = $7,725.30

However this is not yet the final answer because we still have to add the original value into this increase value, therefore the approximate tuition for 2013-2014 is:

Tuition = $7,725.30 + $2,341

Tuition = $10,066.30

Answer:

$10,066.30