According to the information given in the exercise, the tuition is expected to increase from $1,050 to $2,050 over the next ten years.
Then, you need to use the following formula in order to solve this exercise:
[tex]Percentage\text{ }Increase=\frac{Final\text{ }value-Initial\text{ }value}{|Initial\text{ }value|}\cdot100[/tex]In this case:
[tex]\begin{gathered} Initial\text{ }value=1,050 \\ Final\text{ }value=2,050 \end{gathered}[/tex]Therefore, substituting these values into the formula and evaluating, you get:
[tex]\begin{gathered} PercentageIncrease=\frac{2,050-1,050}{|1,050|}\cdot100 \\ \\ PercentageIncrease=95.24 \end{gathered}[/tex]Hence, the answer is: 95.24% increase.
