Question

A student is planning to attend college in 5 years. The student has saved $1200 and plans to save another $50 dollars a month over the next 60 months.

Based on this information about the students plans, which statements about the possible choices for a college is true?

Answer 1

Explanation:

Without knowing the cost of college or the student's financial aid package, it is difficult to make definitive statements about the possible choices for college. However, based on the given information, we can make some assumptions and estimates.

Assuming the student saves $50 per month for 60 months (5 years), they will have an additional $3,000 ($50 x 60 = $3,000). Adding the initial savings of $1,200, the total savings would be $4,200.

If we assume the cost of college to be $10,000 per year, the $4,200 in savings would not be sufficient to cover even one year of college expenses. However, if the student receives financial aid or scholarships, their savings may be sufficient to cover some of the remaining costs.