In 2009, Internationale Outstanding University (IOU) had an enrollment of 26,190 undergraduates, each of whom...
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In 2009, Internationale Outstanding University (IOU) had an enrollment of 26,190 undergraduates, each of whom paid $6,398 per year in tuition. In 2010, enrollment was 27,647 students, and tuition was raised 4.7%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 27,476 students. In 2012, it is estimated that tuition will be $7,094 and IOU needs to receive 4.0% more total revenue from tuition than in 2011.
Assuming the 2012 revenue and student enrollment goals are met, what will be the average annual growth rate of tuition for 2009 to 2012?
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