Upstate University charges ​$15,000 a year in graduate tuition. Tuition rates are growing at 3.5​% each year. You plan to enroll in graduate school in six years. What is your expected graduate tuition in six ​years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 22P
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Upstate University charges

​$15,000

a year in graduate tuition. Tuition rates are growing at

3.5​%

each year. You plan to enroll in graduate school in

six

years. What is your expected graduate tuition in

six

​years?

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