16. Claire is going to a university where tuition for
one year costs $18,000. She has a scholarship
worth $5,000 per year. Claire also earns $500 per
year at her part-time job. She will take out a loan to
cover the rest of the tuition. How much money will
Claire have to borrow to pay her tuition for one
year?
A $10,700 B $12,500
C $17,200 D $19, 500
First, we need to find out how much money Claire will have available to pay for tuition without borrowing.
Total available money = Scholarship + Part-time job earnings
Total available money = $5,000 + $500
Total available money = $5,500
Subtract this from the total cost of tuition:
Amount to borrow = Total tuition cost - Total available money
Amount to borrow = $18,000 - $5,500
Amount to borrow = $12,500
Therefore, Claire will have to borrow $12,500 to pay her tuition for one year.
The answer is B. $12,500.