Elementary and Intermediate Algebra: Concepts & Applications (6th Edition)

Published by Pearson
ISBN 10: 0-32184-874-8
ISBN 13: 978-0-32184-874-1

Chapter 3 - Introduction to Graphing - 3.4 Rates - 3.4 Exercise Set: 16

Answer

$\$935.50$ per year

Work Step by Step

To find the average rate of increase, solve for the increase in in the average room, board, and tuition then divide it by the time in years. Increase in Average room, board, and tuition = $\$(21,189-17,447) =\$3,742$ Time = $2010 - 2006=4$ years Divide the increase in room, board and tuition by the number of years to obtain: Average Annual Increase = $\dfrac{\$3,742}{4\text{ years}}= \$935.50$ per year
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