Problem 7-10 Tuition costs at various colleges vary from $15,000 to $35,000 annually. These tuitions are expected to increase over time. If the annual rate of increase is 2 percent, what will be the new range in tuition costs in nine years? Use Appendix A to answer the questions. Round your answers to the nearest dollar.

The range at 2 percent is $ - $ .

If the rate doubles from 2 to 4 percent, what will be the range in tuition costs after nine years? Use Appendix A to answer the questions. Round your answers to the nearest dollar. The range at 4 percent is $ - $ .