Question

In the news, you hear "tuition is expected to increase by 3% next year." If tuition this year was $2,600 per quarter, then the tuition next year will be $_____ per quarter.

Please explain how you found your answer. Thank you.

Answer 1

2600 increased by 3%

there are 2 ways to do this...

(1) 2600 + 0.03(2600) = 2600 + 78 = 2678 per quarter

or

(2) 2600 * 1.03 = 2678 per quarter