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Shortfall in the upcoming year

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St Joseph school has 1200 student, each of whom currently pays $8000 per year to attend. In addition to revenues from tuition, the school receives an appropriations from the church to sustain its activity. The budget for the upcoming year is $15 million and the church appropriation will be $ 4.8 million. By how much will the school have to raise tuition per student to keep from having a shortfall in the upcoming year? Provide the formulas also please?

Reference no: EM132365939

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