Question: In 1995 the average tuition for one year at a 4-year institution was $4,500. Twenty four years later, in 2015, it had risen to $27,200.

In 1995 the average tuition for one year at a 4-year institution was $4,500. Twenty four years later, in 2015, it had risen to $27,200. What was the growth rate in tuition over this 24-year period?

		7.37%
		7.54%
		7.78%
		7.95%
		8.16%

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