Question

It costs $23,000 to attend 1 year at Texas State University, and I already saved up $4,000. How much money would I have to save each month for the next year to have the full $23,000?

Round to the nearest hundredth.

Answer 1

To have the full $23,000 to attend Texas State University, you would have to save approximately $1,583.33 each month for the next year.

Step-by-step explanation:

To find out how much money you would have to save each month for the next year to have the full $23,000, you can subtract the amount of money you already saved from the total cost of attending Texas State University. $23,000 - $4,000 = $19,000. This is the amount of money you still need to save.

Next, you divide the amount of money you still need to save by the number of months in a year (12) to find out how much you need to save each month. $19,000 ÷ 12 = $1,583.33.

Therefore, you would have to save approximately $1,583.33 each month for the next year to have the full $23,000.

Answer 2

`\$1583.33`

Step-by-step explanation:

Let
`d` be the amount of money you need to save each month to have the full $23,000.

We can write the following inequality:

`4,000+12d\geq 23,000`

Solving for
`d`:

`4,000+12d\geq 23,000,\\12d\geq 19,000\\d\geq \approx \boxed{\$1583.33}`