231k views
21 votes
Giselle predicts that she will receive a grant for $4,000. If she has 4 years in which to save, what is the minimum monthly amount she should deposit in an interest bearing savings account to be able to pay her contribution for one year of college? $400 $500 $600 $700 Mark this and return

2 Answers

6 votes

C. $600

correct on edge 2021

User Graywh
by
4.5k points
9 votes

Predicton table :

Category_______Estimated Cost 2017–2018

Tuition __________$12,450

room and board ___$10,125

transportation _____$2,600

books and fees ____$2,250

other ____________$1,250

Answer:

$600

Step-by-step explanation:

Given that :

Estimated cost required 1 year in college :

(tuition fee + room and board + transportation + books and fees + others)

($12450 + & 10125 + $2600 + $2250 + $1250)

Total Amount = $28,675

Amount to be saved monthly for 4 years to obtain total amount :

Total amount / number of months in 4 years

1 year = 12 months

4 years = (12 * 4) =48 hours

$28,675 / 48

= $597.39583

= $600 ( to the nearest ten dollar)

User Macloving
by
5.2k points