SOLUTION: I need help on this word problem. I seem not to understand the directions therefore I don't understand how to solve this problem. Can anyone help? Your help is greatly appreciated:

Question 209824: I need help on this word problem. I seem not to understand the directions therefore I don't understand how to solve this problem. Can anyone help? Your help is greatly appreciated:
FOUR YEAR COLLEGE TUITION. The average tuition at a public four-year college was $3,640 in 1999 and approximately $3,983 in 2001. Find the rate at which tuition ws increasing.
(Round answer to the nearest cent)

Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
First, find the amount of increase (I) over the two-year period (1999-2001).
I = $3983-$3640 = $343.
So the rate is $343/2yrs and if we divide this by 2 we can get the annual rate of increase.
I = $171.50 per year.

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