The total cost of attending a state university is $14,800 for the first year.
A student’s grandparents will pay $7,400.
An athletic scholarship will pay another $2,500.
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?
$408.33
$524.86
$616.67
$204.17
The student will need to pay $14,800 - $7,400 - $2,500 = $4,900.
To find the minimum amount the student will need to save every month, we divide $4,900 by 12 months:
$4,900 / 12 = $408.33
Therefore, the closest amount to the minimum that the student will need to save every month is $408.33.
Therefore, the answer is $408.33.