Answer:
The student will have to save $404.2 minimum monthly
Step-by-step explanation:
Given that the total cost for the first year= $19,700
The grandparents paid half the amount = 1/2(19700)= $9850
The remaining balance to be paid is
19,700 - 9850=$9850
If an athlete paid $5000
The the remaining balance to be paid = 9850-5000=$4850
For the student to clear this amount in 12 months he must save
monthly 4850/12= $404.166
Hence the minimum amount to be saved per month is $404.2
Answer:
The student will have to save a minimum of $404.17 every month.
Step-by-step explanation:
The total cost of attending the sate university is $19, 700 for the first year alone.
Total cost for a year = $19700
A student's grandparent will pay half of the cost . This means the grand parents will pay
1/2 of the total cost for a year
1/2 × 19700 = $9850
The grand parent will pay $9850
An athletic scholarship will pay $5000 . It will be 9850 - 5000 = 4850 . The remaining amount to pay is $4850 .
At the end of 12 months the minimum amount the student will save every month to be able to pay the remaining amount will be the amount payable divided by 12 month.
minimum amount to save every month = 4850/12
minimum amount to save every month = 404.16666667
minimum amount to save every month ≈ 404.17
