Question

Tuition for one year at the Community College of Camelot costs $6,000 per year. Avalon would like to attend this college and will save money each month for the next 2 years in order to reach her goal. Her parents will contribute 50% for his first year's tuition. If Avalon also receives a local scholarship for $600, how much money will she need to save each month for the next 2 years to have enough money for her first year of college?

Answer 1

Avalon needs to save $100 each month for the next two years after accounting for her parents' contribution and a local scholarship to cover her first year's tuition at the Community College of Camelot.

Step-by-step explanation:

To calculate the amount Avalon needs to save each month, we first need to determine the total amount she needs for one year of tuition at the Community College of Camelot. The tuition costs $6,000 per year. Since her parents will contribute 50%, that leaves Avalon with $3,000 to cover. Additionally, she receives a $600 scholarship, reducing her responsibility to $2,400.

To find out how much Avalon needs to save each month over two years (which is 24 months), we divide the total amount she needs to save by the number of months she has to save it. So, the monthly savings goal is $2,400 divided by 24 months.

The calculation will be: $2,400 ÷ 24 months = $100 per month. Therefore, Avalon needs to save $100 each month for the next two years to reach her goal.