Answer:
The cost of tuition fee after 4 years is $15,149.72.
Step-by-step explanation:
Exponential function:
[tex]A=P(1+r)^n[/tex]
A= the amount after n years
P= Initial amount
r= rate of increasing
n= time in years
The cost of tuition at a college is $12,000. It is increasing at the rate of 6% each year.
Here, P= $12,000, r= 6%= 0.06, n= 4 years.
[tex]\therefore A=12,000(1+0.06)^4[/tex]
[tex]\Rightarrow A= 12000(1.06)^4[/tex]
=$15,149.72
The cost of tuition fee after 4 years is $15,149.72.
