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The Average Yearly Cost of Tuition, Fees, and Room and Board

Question 111

Multiple Choice

The average yearly cost of tuition, fees, and room and board at private four-year colleges in the United States was $21,294 for the academic year 1998/1999 and $27,461 for the academic year 2003/2004.Find the average yearly rate of inflation over this six-year period.Round to the nearest hundredth of a percent.


A) 4.15%
B) 4.50%
C) 4.33%
D) 4.99%
E) 5.16%

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