Annual increase in tuition

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Reference no: EM131810456

Enrollment at City University is increasing 3% per year, its cost per credit hour is increasing 8% per year, and state funds are decreasing by 4% per year. State funds currently pay half of the costs for City U., while tuition pays the rest. What annual increase in tuition is required? Assume inflation is 5% and other rates are nominal.

Reference no: EM131810456

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