Basic College Mathematics (9th Edition)

by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.

Published by Pearson

ISBN 10: 0321825535

ISBN 13: 978-0-32182-553-7

Chapter 6 - Percent - 6.5 Using the Percent Equation - 6.5 Exercises - Page 432: 49

Answer

The average amount of student loan debt this year is $24,009.

Work Step by Step

Debt has increased by 6%, so the debt this year is 106% of the debt last year. $1.06\times22650 = 24009$

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