The total cost that the student needs to cover after the grandparents' contribution and athletic scholarship is $21,600 / 2 - $7,000 = $3,800.
To pay off the remaining $3,800 in 12 months, the student would need to save $3,800 / 12 = $316.67 per month.
So, the amount closest to the minimum that the student will need to save every month is $316.67.
Therefore, the answer is $316.67.
The total cost of attending a state university is $21,600 for the first year.
A student’s grandparents will pay half the cost.
An athletic scholarship will pay another $7,000.
Which amount is closest to the minimum that the student will need to save every month in order to pay off the remaining cost at the end of 12 months?
$316.67
$3,800.00
$583.33
$900.00
1 answer
1 answer