2) The following table show the average published tuition and fees for four year

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

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%

Please like my answer.

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