In September 2017. a university reported that because of rising expenses it can not freeze tuition. Therefore, the following is the university's estimate of student annual expenses for the 2017-2018 school year:
In-State Tuition and Fees $ 9,500
Room and Board
$10,000
Books and Supplies
$ 1.000
Personal Expenses
$ 3,000
Transportation Expenses $ 1,000
Miscellaneous Expenses $ 500
Total Expenses
$25,000
If you start at this university in September 2019, and your total expenses increase by 3% inflation per year, how much would your total education cost
for year one?