Part 1

The consumer price index for education in January 2017 was 251.126. In January 2018, the CPI for education was 257.308. If annual tuition at a public university was $5,500 in January 2017, what should the same tuition cost (in dollars) in January 2018 if the school increased tuition to keep pace with the CPI?( Round your answer to the nearest cent.)

Part 2

A bank offers a CD at an annual interest rate of 5% compounded monthly. Find the APY (in percent). Round to the nearest hundredth of a percent.