Cost Of College

Period 7

Cost of College

In 1983, the tuition per term at the University of Oregon was $321. There were three terms per year. In the year 2005, the cost of tuition at the University of Oregon is $5853 per year, or $1951 per term. This growth in the cost of tuition can be modeled by an exponential function: y = a(b)x. The variable y represents the cost of tuition per term, and the variable x corresponds to the number of years that have passed since the initial year. To find this exponential function, make the initial year 1983. During the year 1983, zero years had passed since the initial year and the cost of tuition per term was $321, making y=321 and x=0. When these numerical values substitute for the variables, the equation is 321 = a(b)0. Owing to the fact that any nonzero real number with a zero exponent is equal to 1, (b)0=1. The equation can be simplified to 321=a(1), so 321= a. Since a is a constant, a will always equal 321 in this equation, regardless of the values of the variables. During the year 2005, 22 years have passed since the initial year and the cost of tuition at the University of Oregon is $1951 per term, making x=22 and y=1951. Upon the substitution of the numerical values for the variables, the equation is 1951=321(b)22. By division, b22= (1951/321). b=22√ (1951/321). Since b is a constant, b will always equal 22√ (1951/321), regardless of the values of the variables. Now that both constants have been obtained, an exponential equation expressing the cost of tuition per term at the University of Oregon in terms of the number of years that have passed since 1983 can be made: y =

University of Alaska Anchorage

In the year 2005, the cost of tuition at the University of Alaska Anchorage is $8962 per year, or $2987.33 per term. The cost of boarding at the University of Alaska Anchorage is $6430. The cost of books is $923. If one were to spend $25 each day on food throughout the school year, one would spend about $7500 on food each year. I would make my clothes budget about $200 per year. I would have about $900 per year for spending money. The drive from Portland to Anchorage is about 2500 miles. In an SUV that gets about 15 miles per gallon, this drive would take about 167 gallons of gas. If the gas costs $3.00 per gallon, about $500 worth of gas would be used on this drive. About $1000 more dollars per year would be used for gas. The total cost of college at the University of Alaska Anchorage for one year of college, excluding tuition, would be roughly $18000. I will pay for college with financial aid from my parents, loans, and I plan to get scholarships. I do not have any scholarships at the moment, but I will probably get some because I have had only Ð''A' grades in high school so far and am attempting to have a 4.0 GPA throughout high school.

Year 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992

Cost per Term ($) 321 348.44 378.23 410.56 445.66 483.76 525.12 570.01 618.74 671.63

Annual % Change 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5%

Year 1993 1994 1995 1996 1997 1998 1999 2000 2001

Cost per Term ($) 729.05 791.37 859.03 932.46 1012.18 1098.71 1192.63 1294.59 1405.26

Annual % Change 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5%

Year 2002 2003 2004 2005

Cost per Term ($) 1525.39 1655.8 1797.35 1951

Annual % Change 8.5% 8.5%