Barb Estimates she will need 7,500 per year for college tuition. Her parents can pay 75% of the cost, and she will need to cover the rest. If barb has 4 years and wants to sve enough to cover the first two years of her contribution, what i the minimum amount she should save each month?
Barb's parents will pay 75% of the $7,500 tuition, which is 0.75 * $7,500 = $<<0.75*7500=5625>>5,625 per year.
Barb needs to cover the remaining 100% - 75% = 25% of the tuition cost.
The cost Barb needs to cover is 0.25 * $7,500 = $<<0.25*7500=1875>>1,875 per year.
For the first two years, Barb needs to cover a total of $1,875 * 2 = $<<1875*2=3750>>3,750.
To save enough money, the minimum amount Barb should save each month is $3750 / (2 years * 12 months) = $156.25. Answer: \boxed{156.25}.
To calculate the minimum amount Barb should save each month, we first need to find out how much she will need to contribute for the first two years.
Barb's parents will cover 75% of the college tuition, so she will need to pay the remaining 25%.
For one year, the amount she needs to save is:
25% of $7,500 = (25/100) * $7,500 = $1,875
For two years, the amount she needs to save is:
$1,875 * 2 = $3,750
Since Barb wants to save enough to cover the first two years of her contribution, she should save at least $3,750.
Now, let's calculate the minimum amount she should save each month.
Barb has 4 years to save, and she wants to cover the first two years of her contribution.
Number of months to save for two years = 2 * 12 = 24 months
Minimum amount she should save each month:
$3,750 / 24 = $156.25
Therefore, Barb should save at least $156.25 each month to cover the first two years of her college tuition contribution.
To find out the minimum amount Barb should save each month, we need to calculate the total amount she needs to contribute for the first two years of college tuition.
Barb's parents will cover 75% of the cost, which means Barb needs to contribute the remaining 25%.
First, we calculate the total cost for two years of college tuition:
Total cost = 7500 per year * 2 years = 15000.
Barb needs to cover 25% of the total cost, which is:
25/100 * 15000 = 3750.
Now, we need to divide the total amount Barb needs to save by the number of months in two years (24 months) to get the minimum amount she should save each month:
Minimum amount to save each month = 3750 / 24 = 156.25 (rounded to two decimal places).
Therefore, the minimum amount Barb should save each month is $156.25.