Dawn Swift discovered that 20 years ago, the average tuition for one year at an Ivy League school was $4,500. Today, the average cost is $29,000. What is the growth rate in tuition cost over this 20-year period? Round off to the nearest 0.1%
A) 15.5%
B) 4.2%
C) 9.8%
D) 10.6%
Answer: C
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