The tuition at a college has been increasing by the same percentage since the year 2000. The tuition was $30,000 in 2012, $31,200 in 2013, and $32,448 in 2014.

1. The equation  represents the cost of tuition, in dollars, as a function of , the number of years since 2012. Explain what the 30,000 and 1.04 tell us about this situation.
2. What is the percent increase in tuition from year to year?
3. What does mean in this situation? Find its value and show your reasoning.
4. 1. Write an expression to represent the cost of tuition in 2007.
   2. How much did tuition cost that year?

A small business bought a van for $40,000. The van depreciates by 15% every year after its purchase.

1. Which graph correctly represents the value of the van as a function of years since its purchase? Be prepared to explain why each of the other graphs could not represent the function.

   

   

   

   

2. Find the value of the van 8 years after its purchase. Show your reasoning.
3. In the same year that it bought that van, the business bought a car that cost $10,000 less than the van and depreciates at 10% per year. Would the car be worth more or less than the van 8 years after the purchase? Explain or show your reasoning.
4. On the same coordinate plane as the graph you chose in the first question, sketch a graph that shows the value of the car, in dollars, as a function of years since its purchase.