The cost of tuition at a college is $12,000 and is increasing at a rate of 6% per year; 4 years.

Question

asked May 17, 2021 222k views

1 Answer

Andrew Moore · Answer 1 · 2021-05-22T09:13:23+0000

Answer: $2880

Explanation:

I = P • r • t

I = 12000 • 0.06 • 1460/365 (I used 1340/365 because there are 365 days in a year. 4 years = 1460)

I = 2880