College tuition costs rose again this year. In-state tuition at public colleges increased to $10,560, up $120 from last year. Tuition at private colleges rose to nearly $38,000, up 2.1%. Over the past 10 years, college tuition has increased by an average of 4.5% per year, compared to a 1.3% annual rise in average consumer prices, making college increasingly unaffordable for many families.

1. Refer to the News Wire and answer two questions.
The price of attending college has gone up again. According to the nonprofit College Board, in-
state tuition at four-year public colleges rose to $10,560 this year, up another $120 from last
year. Tuition at private colleges is up to nearly $38,000 a year, a hike of 2.1 percent. Over the
last 10 years, college tuition has increased by 4.5 percent a year, while average consumer prices
have risen by only 1.3 percent a year. These tuition hikes are making college attendance
increasingly expensive and difficult for many families.
Source: The College Board, October 26, 2020, www.collegeboard.org.
According to the News Wire, during the past 10 years, by what percentage did
Instructions: Round your responses to one decimal place.
the nominal price of college tuition increase per year?
%
the real price of college tuition increase per year?
%NEWS WIRE: PRICE EFFECTSCollege Costs Keep Rising
The price of attending college has gone up again. According to the nonprofit College Board, in-
state tuition at four-year public colleges rose to $10,560 this year, up another $120 from last
year. Tuition at private colleges is up to nearly $38,000 a year, a hike of 2.1 percent. Over the
last 10 years, college tuition has increased by 4.5 percent a year, while average consumer prices
have risen by only 1.3 percent a year. These tuition hikes are making college attendance
increasingly expensive and difficult for many families.
Source: The College Board, October 26, 2020, www.collegeboard.org.