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$1.00 In 1966, the average tution for one year

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edith308
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In 1966, the average tution for one year in the MBA program at the university of chicago was $3,599. Thirty years later in 1996, the average tution was $27,400. What is the compound annual growth rate in tution (rounded to the nearest whole percentage) over a 30 year period?
 

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"In 1966, the average tution for one year
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  • Posted on May 17, 2009 at 9:39:49PM
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Albertom
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Preview: ... od?<br><br>One way to solve this problem is to use the formula of compound interst i.e.<br><br>Formula for calculating compound interest:<br><br>FV = Pv(1+r/100 ...
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