Multiple Choice
In 1983, the average tuition for one year in the MBA program at a university was $3,600. Thirty years later, in 2013, the average tuition was $27,400. What is the compound annual growth rate in tuition (rounded to the nearest whole percentage) over the 30-year period?
A) 6%
B) 7%
C) 8%
D) 10%
Correct Answer:
Verified
Correct Answer:
Verified
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