Your University Charges an Annual Tuition of $9600

question 36

Multiple Choice

Your university charges an annual tuition of $9600. If you agree to take part in a work-study program, your annual tuition is only $8200. What is the percentage decrease in the tuition if you take part in the Work-study program? Give your answer as a percentage rounded to the nearest tenth of a percent.

• A) 9.7%
• B) 11.8%
• C) 13.1%
• D) 14.6%
• E) None of the above.

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Definitions:

Credit Balance

A situation in an account where the sum of credits exceeds the sum of debits, indicating the company owes money.

Retained Earnings

The portion of a company's profit that is held or retained and saved for future use, reinvestment, or debt repayment instead of being paid out as dividends to shareholders.

Stockholders' Equity

The ownership interest of stockholders in a corporation, represented by the residual assets after deducting liabilities.

Retained Earnings

The portion of net earnings not distributed as dividends to shareholders but instead reinvested in the core business or used to pay off debt.