Question

Arthur is 10 years old tuition for one year at a public to your college is $3125 in eight years tuition is expected to increase 32% Arthur’s family plans to stay for his college cost for five years if the family save $75 per month will there be enough money to pay for the expected cost of one year at the college when he’s 18

Answer 1

Yes, they could save about $5 less per month and still have enough money.

Explanation:

Answer 2

yes

Explanation:

In 8 years, when the tuition increases 32% over its present value, it will be ...

$3125 × (1 +32%) = 1.32 × $3125 = $4125 . . . expected cost

If the family saves $75 per month for 60 months, they will have saved ...

60 × $75 = $4500 . . . amount saved

The saved amount will exceed the expected cost of one year of college.