Question

Please help me with his one I don't get it . Nick estimates that he will need $4400 per year for tuition at the college he wants to attend . Nick's grandparents will be able to pay for 45% of his expenses. If Nick has 3 years to save for the rest of his tuition for his first year , what is the minimum amount he has to save each month to reach his goal?

Answer 1

$67.22 each month

Explanation:

Find how much Nick's grandparents will pay for by multiplying 4400 by 0.45:

4400(0.45)

= 1980

Subtract 1980 from 4400 to find how much Nick will have to save:

4400 - 1980

= 2420

Nick has 3 years to save for his tuition, meaning that he has 36 months to save (since there are 12 months in a year).

Find how much he has to save each month by dividing 2420 by 36:

2420/36

= 67.22

So, Nick will have to save approximately $67.22 each month