Question

Melinda is planning to attend a private university after she graduates from high school in 3 years. She is devising a plan to save money each month to help with the expenses of attending the university. The cost of attending the private university for one year is $22,500. Her family has promised to contribute $13,500 each year she is in school. Which plan shows the minimum amount of money Melinda must contribute to her savings to have enough money to pay for her first year of tuition? A: save $250 per month for the next 3 years B: Save $375 per month for the next 3 years C: Save $625 per month for the next 3 years D: Save $750 per month for the next 3 years​

Answer 1

A: save $250 per month for the next 3 years

Explanation:

Melinda has three more years in high school as stated in the question.

One year private university tuition = $22,500

Support from family = $13,500

Amount that Melinda has to pay = $22,500 - $13,500 = $9000

Number of months in three years = 3 * 12 = 36 months

If she must save $9000 in 36 months

Then $x must be saved in 1 month

x = $9000/36

x = $250