Question

The table shows the predicted cost of the first year of college at a private school six years from now.

Category
Predicted Cost
tuition
$36,620
room and board
$12,900
books and fees
$2,450
transportation
$3,100
other
$1,330
.
Emily is using the table to determine the minimum amount of money she should save monthly if she is to have enough money to pay for her first year of college. She anticipates receiving $6,000 in grants and has 6 years to save in a college savings account.
Without including any interest earned, what is a reasonable estimate of the amount Emily and her family should save each month for the next 6 years to pay for her first year of college?
$600
$700
$850
$950

Answer 1

Answer: B. 700

Step-by-step explanation:

Answer 2

The answer is $700. You add all of the costs together, subtract the grants, divide that by 6, then divide by 12 to get the monthly savings. The final answer ends up being 700.