"Josewants to attend the same college that his older brother attended. After researching it on the school's website,he estimates that tuition for his freshman year of college will be about $19,500. Both of Jose’s parents work, andthey are each able to save $350 a month for the next 2 years before Josegoes to college. Josewill need to relyon financial aid and scholarships for the remainder of his tuition. How many dollars willJoseneed to receive infinancial aid and scholarships to be able to afford tuition for his freshman year? A.$19,150 B.$2,700 C.$11,100 D.$18,800"

Answers

Answer 1

Answer:

C, $11,100

Step-by-step explanation:

First, we know that there are 12 months in a year, and they can save $350 a month together. 350 x 12 is 4200. That is for one year, and we need to find it for two years. 4200 x 2 is $8400. That’s the total he could save for college, and tuition costs $19500, so 19500 - 8400 = 11,100. Jose needs $11,100 in scholarships and financial aid for tuition.

Answer 2

Answer:

Final answer:

The answer is B. $2,700. After his parents save $16,800 over two years, Jose will need $2,700 in financial aid and scholarships to meet the cost of his estimated freshman year tuition of $19,500.

Explanation:

First, let's calculate the total amount that Jose's parents will be able to save for his college tuition. They can save $350 each per month for 2 years. That's $350 x 2 x 12 x 2 = $16,800. Jose's estimated tuition for his freshman year of college is $19,500. Now, if we subtract the total amount his parents will save from the estimated tuition, we can calculate how much money Jose will need to receive in financial aid and scholarships to be able to afford tuition. This would be $19,500 - $16,800 = $2,700. So, Jose will need to receive $2,700 in financial aid and scholarships to be able to afford the tuition for his freshman year. Hence, the correct answer is B. $2,700.

Learn more about Financial Aid Calculation here:

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Answers

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Answers

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Answers

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