using spreadsheet 21.10 assess the present value of college tuition as a fraction of the present value of labor income if tuition were to rise by 1%

G Extra-Cons 40,000 A Retirement Years Income GrowthRate of Inflation Savings Rate 25 Age rROR ROR 0291 Cumulative Savings rConsumption Expenditures 42,500 44,150 51,419 75,264 84,378 87,654 91,058 94,595 98,268 102,084 106,049 110,167 .06 .15 07 .03 2 Savings 7,500 8,025 10,519 20,693 25,349 27,124 29,023 31,054 33,228 35,554 38,043 40,706 80,074 1,116,851 Deflator Income 50,000 53,500 70,128 137,952 168,997 180,826 193,484 207,028 221,520 237,026 253,618 271,372 533,829 3 7,500 15,975 61,658 308,859 375,099 354,588 260,397 30 1.00 4 5 31 1.03 35 1.16 19 45 1.56 1,70 1.75 68,097 70,140 144,489 148,824 76,644 78,943 22 23 24 48 49 50 1.81 25 51 52 53 54 55 1.86 1.92 158,252 124,331 88,401 131,748 180,359 1,090,888 Real Annuity 26 27 1.97 28 29 39 40 Total 2.03 2.09 65 2.81 161,257 22,048 Using Spreadsheet 21.10, assess the present value of college tuition as a fraction of the present value of labor income if tuition were to rise by 1%. (Round your answer to 2 decimal places.) % Present value G Extra-Cons 40,000 A Retirement Years Income GrowthRate of Inflation Savings Rate 25 Age rROR ROR 0291 Cumulative Savings rConsumption Expenditures 42,500 44,150 51,419 75,264 84,378 87,654 91,058 94,595 98,268 102,084 106,049 110,167 .06 .15 07 .03 2 Savings 7,500 8,025 10,519 20,693 25,349 27,124 29,023 31,054 33,228 35,554 38,043 40,706 80,074 1,116,851 Deflator Income 50,000 53,500 70,128 137,952 168,997 180,826 193,484 207,028 221,520 237,026 253,618 271,372 533,829 3 7,500 15,975 61,658 308,859 375,099 354,588 260,397 30 1.00 4 5 31 1.03 35 1.16 19 45 1.56 1,70 1.75 68,097 70,140 144,489 148,824 76,644 78,943 22 23 24 48 49 50 1.81 25 51 52 53 54 55 1.86 1.92 158,252 124,331 88,401 131,748 180,359 1,090,888 Real Annuity 26 27 1.97 28 29 39 40 Total 2.03 2.09 65 2.81 161,257 22,048 Using Spreadsheet 21.10, assess the present value of college tuition as a fraction of the present value of labor income if tuition were to rise by 1%. (Round your answer to 2 decimal places.) % Present value