Problem 2. Tuition at a major university rose from 1,500 yr in 1962 to 20,000 yr in 1995. What exponential rate of growth characterized that time period? What is this

rate in terms of its "doubling time"? If that growth rate were to continue for another 25 years, what would the tuition be?

Fig: 1

Fig: 2

Fig: 3

Fig: 4