Question
42. I paid $1,900 in tuition for my first year of college which ran from September 1968 until May 1969. Tuition at the same university
42. I paid $1,900 in tuition for my first year of college which ran from September 1968 until May 1969. Tuition at the same university was $53,790 for the 2019-2020 school year.
a. Calculate the percent change in the cost of tuition at my alma mater over that period. Round your answer to the nearer thousandth of a percent. ____________
b. Calculate the percent change per year in the cost of tuition of my alma mater over that period. Round your answer to the nearer thousand of a percent. ____________
c. The Consumer Price Index was 35.100 in September of 1968 and was 256.759 in September of 2019. Calculate the percent change per year in the Consumer Price Index over that period. Round your answer to the nearer thousandth of a percent. ____________
d. Has the cost of tuition at my alma mater riser faster or slower than the general rate of inflation in our economy over that period? ____________
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