Question

the cost for one year of tuition books in living expenses at science tech college is $14,000 Becky and her parents have 5 years before she graduates from high school to help her save money for tuition cost at science tech Becky has already saved $10,000 and her grandparents have promise to contribute $4,250 each year she will attend the college which plan shows the minimum that Becky and her parents must have each month in order for Becky to have enough money to pay for the tuition cost for all four years of her college expenses

Answer 1

Save $483.34 per month for the next 5 years.

Step-by-step explanation:

Tuition Cost per year of college = $14,000

Total tuition cost for 4 years of college:

`\begin{gathered} =14,000*4 \\ =\$56,000 \end{gathered}`

• Becky has already saved $10,000

,

• Her grandparents promised to contribute $4,250 for 4 years.

,

• Her parents will save $x for 5 years (60 months).

Therefore:

`10,000+4(4250)+60x=56,000`

We solve for x:

`\begin{gathered} 10,000+17,000+60x=56,000 \\ 27,000+60x=56,000 \\ 60x=56,000-27,000 \\ 60x=29,000 \\ x=(29,000)/(60) \\ x=\$483.33 \end{gathered}`

Therefore, her parents must save $483.33 per month for the next 5 years.