Question

Tuition at Korby College is $16,340 this year. Omar has a scholarship that covers 30% of his tuition. He has $1,200 saved to use this year, and he expects to earn $2,000 at his part-time job. Omar will need student loans for the rest. How much money will he need to take out in student loans this year?

Answer 1

$8,238

Explanation:

The tuition is $16340, and the scholarship covers 30% of the tuition, which is;

=
`(30)/(100) *` $16340

= $4902

This leaves him with $11438 to pay and he has saved $1200 and also is expecting $2000 from his job giving him a total of an additional $3200.

Subtract this amount from the $11438 that he owes and it will give you $8238

This is the amount he will need student loans for.