8-26. Annual tuition increases at a large university are shown below: 2008 13% 2013 9% 2009 4.6% 2014 12% 2010 6% 2015 8% 2011 6% 2016 6% 2012 9% 2017 5.6% These increases take place in the fall semester of each year. The annual tuition expense for 2007 was $5,000. (8.4)

a. What is the tuition expense for 2017?

b. What compounded rate of increase in tuition has been experienced at this university?