Question 557304: in 1999 the tuition for one year at a university was $24,165. each year the tuition increased by 6.15% each year.
A. write the equation to represent the situation.
B. what is the tuition in 2007
C. in what year did the tuition reach $30,000
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! in 1999 the tuition for one year at a university was $24,165. each year the tuition increased by 6.15% each year.
A. write the equation to represent the situation.
t(x) = 24165*(1.0615)^x where x is the number of years after 1999
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B. what is the tuition in 2007
t(8) = 24165*1.0615^8 = $39843.00
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C. in what year did the tuition reach $30,000
Solve: 24165*1.0615^x = 30,000
1.0615^x = 1.2415
x = ln(1.2415)/ln(1.0615)
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x = 3.62 years
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Cheers,
Stan H.
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