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?
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?
$637.50
$1,350.00
$112.50
$28.12
The minimum amount Alejandra should save every month is $112.50.
Her parents will pay 85% of the tuition cost, which is $7,650. Alejandra will need to pay the remaining 15%, which is $1,350.
Since she has one year to save this amount, she should save $1,350 over 12 months, which equals $112.50 per month.