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
$583.33
$900.00
The student needs to save $21,600 / 2 (grandparents) - $7,000 (scholarship) = $10,800 by themselves.
They have 12 months to save this amount, so they need to save $10,800 / 12 = $900 per month.
Therefore, the amount closest to the minimum that the student will need to save every month is $900.
So, the answer is $900.00.