2) The following table show the average published tuition and fees for four year
ID: 1167035 • Letter: 2
Question
2) The following table show the average published tuition and fees for four year public institutions in New Hampshire and the CPI for years 2005, 2010 and 2015 Year Average Tuition cost
year average tuition CPI
2005 8,585 195
2010 11,946 218
2015 15160 237
Compare the average gro0wth rate of the tuition cost from 2005 to 2010 to the average growth rate of the tuition cost from 2010 to 2015? {6.83% - 4.88%}ans need work please!
Find the equivalent tuition cost in the stat of New Hampshire in terms of 2015 dollars
Year Average Cost of Tuition in constant 2015 dollars?
2005 {$10434}ans
2010 {$12990}ans
2015 {$15160}ans need work please!
Explanation / Answer
ANSWER:
?Average Growth rate from 2005 to 2010.
?Ending Value = 11946, Initial Value = 8585, Years (n) = 5
?Average Rate = CAGR = (Ending Value / Initial Value)1/n - 1
or, CAGR = [ (11946/8585)1/5 - 1 ] * 100% = 6.83%
Similarly,
?Average Growth rate from 2010 to 2015.
?Ending Value = 15160, Initial Value = 11946, Years (n) = 5
?Average Rate = CAGR = (Ending Value / Initial Value)1/n - 1
or, CAGR = [ (15160/11946)1/5 - 1 ] * 100% =
4.88%
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