In 1971, the average cost of tuition, fees, room, and board for one year at a public 4-year university was $1,410. The same items had an average cost of $20,150 in 2016. Calculate the rate of inflation in college expenses from 1971 to 2016. Round your answer to the nearest tenth of a percent.

Question

03-09-2021
Mathematics

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In 1971, the average cost of tuition, fees, room, and board for one year at a public 4-year university was $1,410. The same items had an average cost of $20,150 in 2016. Calculate the rate of inflation in college expenses from 1971 to 2016. Round your answer to the nearest tenth of a percent.

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