A private high school charges $36,400 for tuition, but this figure is expected to rise 10% per year.

Discussion in 'Calculator Requests' started by math_celebrity, Apr 30, 2020.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    A private high school charges $36,400 for tuition, but this figure is expected to rise 10% per year. What will tuition be in 10 years?

    Let the tuition be T(y) where y is the number of years from now. We've got:
    T(y) = 36400 * (1.1)^y

    The problem asks for T(10)
    T(10) = 36400 * (1.1)^10
    T(10) = 36400 * 2.5937424601
    T(10) = 94,412.23
     

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