Question

Kylie is planning to attend a private university after she graduates from high school and three years she is diverging a plan to save money each month to help with the expenses to attend the University the cost of attending the private university for 1 year is 15000 her family has promised to contributions 7000 each year she is in school which plan shows the minimum amount of money she must contribute to a baby to have enough money to pay for the first year

Answer 1

The plan that shows the minimum amount of money she needs to contribute to her savings to have enough money to pay for her first year is;

Step-by-step explanation:

Given that the cost of attending the private university for 1 year is 15000.

`\text{ \$15,000}`

her family has promised to contributions 7000 each year.

`\text{ \$7,000}`

The remaining amount she need to save for each year is is;

`\begin{gathered} \text{ \$15,000 - \$7,000} \\ \text{ \$8,000} \end{gathered}`

To have enough money for her first year she needs to save up $8,000.

From the options let us find the saving plan that gives the minimum amount of $8,000.

$222.22 per month for 3 years;

`\begin{gathered} T=\text{ \$222.22}*12*3 \\ T=\text{ \$7999.92} \\ T\approx\text{ \$8,000} \end{gathered}`

Therefore, the plan that shows the minimum amount of money she needs to contribute to her savings to have enough money to pay for her first year is;