Question

jamal is attending a university where fitr tuition one year costs 11,800. he has a scholarship worth 1,500 per year he earns 2,500 per year at his part time job. he plans to take out a loan to cover the remaining tuition costs. Tuition will increase by 100 each year. If he completes collage in 4 years , how much money will jamal need to borrow

Answer 1

Jamal will have to borrow 31,800.

Explanation:

Total tuition for the full four years = 11,800 + 11,900 + 12,000 + 12,100 = 47,800

Total money from scholarship = 1,500 × 4 = 6,000

Total income received = 2,500 × 4 = 10,000

Total money to borrow = 47,800 - 6,000 - 10,000 = 31,800