The headline on a Chronicle of Higher Education article reads College Costs Rise Faster than Inflation. The
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The headline on a Chronicle of Higher Education article reads "College Costs Rise Faster than Inflation." The article states that tuition at public colleges and universities increased by 58% over the past 5 years.
(a) What was the average annual percentage increase over that period of time?
(b) If the real increase in tuition (i.e., without inflation) was 5% per year, what was the inflation rate per year?
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