1. The tuition at DLSU-Manila is P65,000 per term in 2013. At a time 18 years ago, the tuition was P27,000 per term. Assuming that the rate of increase each year is constant, how much would the tuition be in 2030 (or about the time when a college sophomore would have a child enter college)?

Round your final answer to 2 decimal places, do not round your intermediate solutions.