104k views
1 vote
Henry is planning to attend a public university after he graduates from high school in 3 years. He is devising a plan to save money each month to help with the expenses of attending the university. The cost of attending the public university for one-year is $26,500. His family has promised to contribute $13,450 each year he is in school. What is the minimum amount of money Henry must contribute to his savings per month for the next 3 years to have enough money to pay for his first year of tuition?

a
$501.32
b
$362.50
c
$294.38
d
$482.35

User Mefi
by
8.3k points

1 Answer

3 votes
option b) 362.50
subtract the amount his parents are giving from the original cost of tuition and the divide by the number of months he had to save
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories