Question

Brandon estimates that he will need $18,000 each year to attend a 4-year college. His family can pay $5,000 a year. And he can get a student loan for $10,000 each year. If he saves $250 a month, how many months will it take him to save the rest of the money he will need for college?

Answer 1

Answer: It will take him 48 months.

Explanation:

Hi, to answer this question we have to write an equation:

the amount his family can pay per year (5000) multiplied by 4 (since is a 4 year college) ; plus the amount of the loan he gets per year (1000) also multiplied by 4 ; plus the amount he saves per month (250) multiplied by the number of months (m) must be equal to the amount he will need per year for college (18000) multiplied by 4.

Mathematically speaking

18000 x 4 = (5000 x 4) + (10000x 4) + 250 m

Solving for m

72000= 20,000+ 40,000+ 250m

72,000-20,000-40,000 = 250m

12,000= 250m

12,000/250 = m

48 =m

Feel free to ask for more if needed or if you did not understand something.

Answer 2

48 months

Explanation:

Brandon estimates that he will need $18,000 each year to attend a 4-year college.

His family can pay $5,000 a year and he can get a student loan for $10,000 each year.

This means that, each year, $15000 out of the $18000 has been covered. That is the sum of the money from his parents and the loan:

$5000 + $1000 = $15000

That means the amount he still needs to cover per year is:

$18000 - $15000 = $3000

In 4 years, he will need to cover:

4 * $3000 = $12000

He saves $250 a month. Therefore, the number of months he will need to save $12000 is:

`(12000)/(250) = 48 months`

He will need to save for 48 months to save the rest of the money he will need for College.