Question

Jolinda and her parents are discussing how to pay for her college education. The cost of tuition at the college Jolinda wants to attend is $7250 a year. Jolinda's parents can pay 70% of the tuition and Jolinda will have to pay the rest. She has one year to save enough money for the first year of college. What is the minimum amount of money she should save every month to reach this goal?

Answer 1

$181.25

Explanation:

Given data

Amount= $7250

The amount the parent will pay

=70/100*7250

=0.7*7250

= $5075

Hence the balance left for her to pay is

=7250 -5075

=$2175

Hence the least monthly amount is

=2175/12

=$181.25