In two years Boris plans to enroll at Cleese University,a prestigious university in the Pacific Northwest of the USA.If the current tuition is $23,500 per year and is expected to increase at a rate of 6% per year,how much will Boris pay in tuition his first year of school? (His first tuition payment is exactly two years from today. ) In his fourth year? (His last tuition payment is exactly 5 years from today) (Rounded to the nearest dollar. )
A) $23,500 and $29,668
B) $26,405 and $29,668
C) $23,500 and $31,448
D) $26,405 and $31,448
Correct Answer:
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