What was dollar increase in costs above inflation rate cost

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Reference no: EM131001203

An article in the Chicago Tribune stated that in 2007, college costs rose faster than inflation and student aid. A report by the College Board found that average in-state tuition and fees at four-year public universities rose 6.6% to $6,185. Fees for private institutions rose 6.3% to $23,712. The published inflation rate for the year was 2.6%.

a. What would the costs for public colleges have been, if they had increased only by the inflation rate of 2.6% instead of the actual 6.6% increase?

b. What was the dollar increase in costs above the inflation rate cost?

Reference no: EM131001203

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