Arthur is 10 years old. Tuition for one year at a public two-year college is $3,125. In 8 years, tuition is expected to increase 32%. Arthur's family plans to save for his college costs for 5 years. If the family saves $75 per month, will there be enough money to pay for the expected cost of one year at the college when he is 18?
No, they would need to save about $30 more per month to have enough money.
No, they would need to save about $15 more per month to have enough money.
Yes, they could save about $5 less per month and still have enough money.
Yes, they could save about $30 less per month and still have enough money.
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