Tuition for one year at a state university is about $30,000. Nyella would like to attend this university and will save money each month for the next 3 years. Her parents will give her $12,500 for her first year of tuition. What plan shows the minimum amount of money
Nyella must save to have enough money to her first year of tuition?
目
灬x
Save $833.33 per month for 3 years
Save $486.11 per month for 3 years
Save $1,180.56 per month for 3 years
D
Save $364.58 per month for 3 years
To find the minimum amount of money Nyella must save, we need to calculate the total amount she needs to save for her first year of tuition. Since her parents will give her $12,500, she will need to save the remaining amount.
The remaining amount is calculated by subtracting the amount her parents will give her from the total tuition cost: $30,000 - $12,500 = $17,500.
Since Nyella will save money each month for 3 years, we need to calculate the monthly savings required to reach $17,500 within that timeframe.
The calculation is done by dividing the remaining amount by the total number of months: $17,500 / (3 years * 12 months per year) = $17,500 / 36 months ≈ $486.11.
Therefore, Nyella must save $486.11 per month for 3 years in order to have enough money to pay for her first year of tuition. So the correct answer is B: Save $486.11 per month for 3 years.