Tuition costs at various colleges vary from $20,000 to $40,000 annually. These tuitions are expected to increase over time. If the annual rate of increase is 4 percent, what will be the new range in tuition costs in twelve years? Use Appendix A to answer the questions. Round your answers to the nearest dollar. The range at 4 percent is $ - $ .

If the rate doubles from 4 to 8 percent, what will be the range in tuition costs after twelve years? Use Appendix A to answer the questions. Round your answers to the nearest dollar. The range at 8 percent is $ - $ .

Interest Factors for the Future Value of One Dollar 2% 7% Time Period (e.g.. year) 1 2 3 4 5 1% 3% 4% 5% 6% 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.020 1.040 1.061 1.082 1.102 1.124 1.145 1.030 1.061 1.093 1.125 1.158 1.191 1.225 1.041 1.082 1.126 1.170 1.216 1.262 1.311 1.051 1.104 1.159 1.217 1.276 1.338 1.403 8% 9% 1.080 1.090 1.166 1.188 1.260 1.295 1.360 1.412 1.469 1.539 10% 1.100 1.210 1.331 1.464 1.611 12% 1.120 1.254 1.405 1.574 1.762 14% 1.140 1.300 1.482 1.689 1.925 15% 1.150 1.322 1.521 1.749 2.011 16% 1.160 1.346 1.561 1.811 2.100 18% 1.180 1.392 1.643 1.939 2.288 20% 1.200 1.440 1.728 2.074 2.488 6 7 8 9 10 1.062 1.126 1.194 1.265 1.340 1.419 1.501 1.072 1.149 1.230 1.316 1.407 1.504 1.606 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.094 1.195 1.305 1.423 1.551 1.689 1.838 1.105 1.219 1.344 1.480 1.629 1.791 1.967 1.587 1.714 1.851 1.999 2.159 1.677 1.828 1.993 2.172 2.367 1.772 1.949 2.144 2.358 2.594 1.974 2.211 2.476 2.773 3.106 2.195 2.502 2.853 3.252 3.707 2.313 2.436 2.660 2.826 3.059 3.278 3.518 3.803 4.046 4.411 2.700 3.186 3.759 4.436 5.234 2.986 3.583 4.300 5.160 6.192 11 12 13 14 15 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 1.127 1.268 1.426 1.601 1.796 2.012 2.252 2.518 1.138 1.294 1.469 1.665 1.886 2.133 2.410 2.720 1.149 1.319 1.513 1.732 1.980 2.261 2.579 2.937 1.161 1.346 1.558 1.801 2.079 2.397 2.759 3.172 2.580 2.813 3.066 3.342 3.642 2.853 3.138 3.452 3.797 4.177 3.479 4.226 3.896 4.818 4.363 5.492 4.887 6.261 5.474 7.138 4.652 5.117 5.350 5.936 6.153 6.886 7.076 7.988 8.137 9.266 6.176 7.287 8.599 10.147 11.973 7.430 8.916 10.699 12.839 15.407 16 17 18 19 20 1.173 1.373 1.605 1.873 2.183 2.540 2.952 3.426 1.184 1.400 1.653 1.948 2.292 2.693 3.159 3.700 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 1.208 1.457 1.754 2.107 2.527 3.026 3.617 4.316 1.220 1.486 1.806 2.191 2.653 3.207 3.870 4.661 3.970 4.328 4.717 5.142 5.604 4.595 6.130 8.137 9.358 10.748 5.054 6.866 9.276 10.761 12.468 5.560 7.690 10.575 12.375 14.463 6.116 8.613 12.056 14.232 16.777 6.728 9.646 13.743 16.367 19.461 14.129 16.672 19.673 23.214 27.393 18.488 22.186 26.623 31.948 38.337 25 1.282 1.641 2.094 2.666 3.386 4.292 5.427 6.848 8.623 10.835 17.000 26.462 32.919 40.874 62.688 95.396 30 1.348 1.811 2.427 3.243 4.322 5.743 7.612 10.063 13.268 17.449 29.960 50.950 66.212 85.850 143.370 237.370