Math Problem Statement

Tuition Increase: The yearly tuition at a college is presently $4,000. Next year it is expected to increase by 14%. What will the tuition at this school be next year?

Solution

The problem in the image states:

Tuition Increase: The yearly tuition at a college is presently $4,000. Next year it is expected to increase by 14%. What will the tuition at this school be next year?

We can calculate the increase and the new tuition with the following steps:

  1. Calculate the increase amount:
    14% of 4000=0.14×4000=56014\% \text{ of } 4000 = 0.14 \times 4000 = 560

  2. Add the increase to the current tuition:
    4000+560=45604000 + 560 = 4560

Thus, the tuition next year will be $4,560.

Would you like further clarification or additional details?

Here are some related questions for deeper understanding:

  1. What would the tuition be in two years if the same percentage increase occurred?
  2. How would the tuition change if the percentage increase were 10% instead of 14%?
  3. What is the formula for calculating a percentage increase in any amount?
  4. How can you calculate the original price if you know the increased price and the percentage increase?
  5. If the percentage increase were compounded over several years, how would that affect the tuition?

Tip: Always double-check your calculations when working with percentages to avoid errors!

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Math Problem Analysis

Mathematical Concepts

Percentage Increase
Basic Arithmetic

Formulas

New Value = Old Value + (Percentage Increase × Old Value)

Theorems

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Suitable Grade Level

Grades 6-8