Brinkley decided that she was going to go to a culinary school, which was going to cost a total of $23,250 for 4 years. She earned a scholarship that was going to pay for $6,000 total. How much would she need to save each month to pay for the rest of the cost, if she was going to save for 3-years?

Question

$5,750

$718.50

$479.17

Answer 1

Brinkley would need to pay $17,250 (total cost - scholarship) over the course of 3 years.

To calculate how much she needs to save each month, divide the total amount needed to save by the number of months (3 years = 36 months):

$17,250 / 36 = $479.17

Therefore, Brinkley would need to save $479.17 each month for 3 years to pay for the rest of the cost of culinary school.