Exponential growth

Question

The original of tuition at a college is 12,00 and is increasing at the rate of 6% each year use an exponential growth function to find the tuition cost after 4 years

Answer 1

I'm assuming you meant to say that the original tuition was $12,000. If so, the exponential equation would be:

T = 12,000(1+0.06)^t and plugging in 4 for t would give you T = 12,000(1.06)^4 = $15,149.72