Question

Annalise received financial aid offers from two universities.

Financial Analysis for Option A
Costs per Year
Financial Aid Package per Year
Tuition & Fees
Scholarships & Grants
$10,000
$7,000
Room & Board
Work-Study
$11,500
$4,000

Financial Analysis for Option B
Costs per Year
Financial Aid Package per Year
Tuition & Fees
Scholarships & Grants
$28,000
$18,000
Room & Board
Work-Study
$9,000
$4,000

Which statement about the costs per year is true?
Option A will save her $4,500.
Option B will save her $7,000.
Option B will save her $11,000.
Option A will save her $15,500.

Answer 1

Option A will save her $4,500

Step-by-step explanation:

Calculation to determine Which statement about the costs per year is true

First step is to calculate OPTION A cost per year

Option A Costs per Year

Work-Study $4,000

Tuition & Fees $10,000

Scholarship & Grants $7,000

Room & Board $11,500

Total $18,500

Second step is to calculate OPTION B cost per year

Option B Costs per Year

Work-study $4,000

Tuition & Fees $28,000

Scholarship & Grants $18,000

Room & Board $9,000

Total $23,000

Now let determine Which statement about the costs per year is true

Costs per year= $23,000-$18,500

Cost per year=$4,500

Therefore the statement about the costs per year that is true will be: Option A will save her $4,500 because the cost per year for OPTION A is LESS COSTLY than that of option B by $4,500.