Question

The total cost of attending a community college is $4,800 for the first year. A student’s parents will pay half of this cost, and a band scholarship will pay another $1,000.

Which amount is closest to the minimum that the student will need to save every month in order to be able to pay the remaining cost at the end of 12 months?

Answer 1

4,800 - 2,400 = 2,400

2,400 - 1,000 = 1,400

1'400 ÷ 12 = 116.67

So he will need to save $116.67 every month for 12 months