Make sure to round to the one decimal place In the 20042005

In the 2004-2005 school year, the average cost of tuition, fees, room, and board for a public 4-year university was $12, 407 and in the 2007-2008 school year, the average cost was $13, 910. Find the percent increase. Round to one decimal place, if necessary. The increase in average cost was %.

Solution

Initial Cost = 12407

Final Cost = 13910

Percentage change = (Final Cost - Initial Cost)/Initial Cost *100%

= ( 13910-12407)/12407 *100 %

= 0.121141 * 100%

= 12.1141%