Four-year -college tuition. The average tuition at a public four-year college was $3983 in 2001 and $5948 in 2005. Find the rate at which tuition was increasing.
Tuition has gone up from $3983 to $5948 in four years.
To find the increase rate, take the difference and divide by the number of years for the increase.
To find the rate at which tuition was increasing, we need to determine the change in tuition over the given time period and divide it by the number of years.
Step 1: Find the change in tuition.
Change in tuition = Final tuition - Initial tuition
Change in tuition = $5948 - $3983 = $1965
Step 2: Find the number of years.
Number of years = 2005 - 2001 = 4
Step 3: Calculate the rate of increase.
Rate of increase = Change in tuition / Number of years
Rate of increase = $1965 / 4 = $491.25 per year
Therefore, the rate at which tuition was increasing during this time period is $491.25 per year.