Question

The University of Texas system consists of 9 campuses and has a budget of $2.4 billion in state funding. If the money were to be allocated equally based on total student enrollment, how much would be appropriated per student, rounded to the nearest cent?

Answer 1

Step 1:

Given data

Total number of campuses = 9

Total budget = $2.4 billion

Total students

= 33629 + 52359 + 8912 + 21493 + 23049 + 20353 + 5431 + 28923 + 7776

= 231925

Step 2

Convert $2.4 billion to cent, multiply $2.4 billion by 100.

`2.4\text{ b}illion\text{ dollars = 2400000000 dollars = 240000000000 cent}`

Step 3:

Divide the total budget in cent by total number of students

`\begin{gathered} \text{Money appropriated per student = }(240000000000)/(231925) \\ =\text{ 1034817.29} \\ =\text{ 1034817 cent} \end{gathered}`

Final answer

1034817 cent