Math Problem Statement
Solution
It looks like you're working on a problem regarding the increase in tuition fees and comparing it to the overall rate of inflation as measured by the Consumer Price Index (CPI). The question asks to compare the percentage increase in tuition from 1989 to 2018 with the overall rate of inflation for that period.
Based on what I see in the image:
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Tuition Increase: The average tuition and fees increased from $8,390 in 1989 to $35,450 in 2018, which is a 327% increase.
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Overall Inflation: The problem asks you to find the overall inflation from 1989 to 2018, which is provided as 103%.
The final part of the question asks if the tuition increase is greater than, less than, or equal to the overall inflation rate.
Clearly, the tuition increase of 327% is greater than the inflation rate of 103%, so you would select "greater than."
Would you like more details on the steps for calculating these percentages or on any other parts of this problem?
Here are 5 related questions you might find useful:
- How do you calculate the percentage increase between two amounts?
- What does the Consumer Price Index (CPI) represent, and how is it calculated?
- How can inflation affect college tuition over time?
- What are some reasons tuition fees might increase faster than the inflation rate?
- What other factors influence the cost of higher education?
Tip: Always double-check the CPI values for the exact years involved to make sure your inflation calculation is accurate.
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Math Problem Analysis
Mathematical Concepts
Percentage Increase
Consumer Price Index (CPI)
Inflation
Formulas
Percentage increase formula: ((New Value - Old Value) / Old Value) * 100
Overall Inflation Rate: (CPI 2018 - CPI 1989) / CPI 1989 * 100
Theorems
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Suitable Grade Level
Grades 11-12, College Level