Question

Rebecca is a Texas resident and she plans to attend Texas Tech for all 4 years of college. She has a yearly scholarship of $10,000 and has already saved $20,000. How much more does she need to save to pay for her college education?

A.) $43,104


B.) $73,104


C.) Her college savings is complete


D.) $103,104

Answer 1

Option A:

Rebecca need to save $43,104 for her college education.

Solution:

Total fees for Texas resident student for 1 year

= $10,772 + $9,384 + $1,200 + $2,300 + $2,120

= $25,776

Total fees for Texas resident student for 4 years

= $25,776 × 4

= $103,104

Scholarship for a year = $10,000

Scholarship for 4 year = $10,000 × 4 = $40,000

Saved money = $20,000

Total amount she have for 4 years = $40,000 + $20,000

= $60,000

Amount she need to save = Total fees for Texas resident student for 4 years - Total amount she have for 4 years

= $103,104 - $60,000

= $43,104

Rebecca need to save $43,104 for her college education.

Option A is the correct answer.