The total estimated cost of attending a public two-year college in Hasani’s home town last year was $2,265. The cost of attending the college is expected to increase 5% annually. Hasani plans to enter the college this year and attend for 2 years. Which is the best estimate for the total cost Hasani will pay for only his second year?
Advanced Placement (AP) · High School · Mon Jan 18 2021
Answered on
To find the estimated cost for Hasani's second year, you can use the information given about the annual increase. If the cost increases by 5% annually, you can calculate the estimated cost for the second year as follows:
- Calculate the 5% increase for the first year:
- First year cost=$2,265+0.05×$2,265
- First year cost=$2,265+0.05×$2,265
- Calculate the estimated cost for the second year:
- Second year cost=First year cost+0.05×First year cost
- Second year cost=First year cost+0.05×First year cost
Now, you can plug in the values and calculate:
First year cost=$2,265+0.05×$2,265
First year cost=$2,265+0.05×$2,265
Second year cost=First year cost+0.05×First year cost
Second year cost=First year cost+0.05×First year cost
This will give you the best estimate for the total cost Hasani will pay for his second year.