Alejandra and her family are discussing how to pay for her college education. The cost of tuition at the college that Alejandra wants to attend is $9,000 per year. Alejandra's parents will pay 85% of the tuition cost every year, and she will pay the rest. Alejandra has one year to save enough money to attend her first year of college. What is the minimum amount of money she should save every month in order to reach her goal?

Question

Alejandra and her family are discussing how to pay for her college education. The cost of tuition at the college that Alejandra wants to attend is $9,000 per year. Alejandra's parents will pay 85% of the tuition cost every year, and she will pay the rest. Alejandra has one year to save enough money to attend her first year of college. What is the minimum amount of money she should save every month in order to reach her goal?

Answer 1

(1 - 0.85)*9000 / 12

Answer 2

To determine the minimum amount of money Alejandra should save every month, we need to find out the portion of the tuition cost that she will be responsible for.

First, we need to calculate how much Alejandra's parents will pay. We know that Alejandra's parents will cover 85% of the tuition cost, which is $9,000. So, we can calculate the amount her parents will pay as follows:

($9,000) x (85/100) = $7,650

Next, we need to determine how much Alejandra will be responsible for paying. We can subtract the amount her parents will pay from the total tuition cost:

$9,000 - $7,650 = $1,350

Now that we know the amount Alejandra will need to pay, we can divide that amount by the number of months she has to save. Since she has one year or 12 months to save, we can divide the amount by 12:

$1,350 / 12 = $112.50

Therefore, Alejandra should save at least $112.50 every month in order to reach her goal of attending college.

Answer 3

To find the minimum amount of money Alejandra should save every month, we need to determine how much she is responsible for paying.

The cost of tuition at the college is $9,000 per year. Alejandra's parents will pay 85% of the tuition cost every year. Therefore, Alejandra is responsible for paying the remaining 15% of the tuition cost.

To calculate the amount Alejandra needs to save, we first need to find 15% of $9,000:

15% of $9,000 = 0.15 * $9,000 = $1,350

So, Alejandra needs to save $1,350 every year.

Since Alejandra has one year to save enough money to attend her first year of college, she needs to divide the amount she needs to save by 12 months:

$1,350 / 12 = $112.50

Therefore, Alejandra needs to save at least $112.50 every month to reach her goal of paying for her college education.