Alex estimates college tuition and fees, books, and other charges total $7500. He will receive a $250 scholarship. If he has 4 years to save, how much should he save per month to cover the costs of college (minus the scholarship) ?

Question

Fisher Payne

Mathematics

11 March, 14:11

Alex estimates college tuition and fees, books, and other charges total $7500. He will receive a $250 scholarship. If he has 4 years to save, how much should he save per month to cover the costs of college (minus the scholarship) ?

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Answers (2)

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Maritza Mcdowell · Answer 1

It sounds like first, you would subtract the $250 from $7500, making that $7250. now you can divide it by the number of months, 12 in one year and there's 4 years, so 48 is what you divide it by. your number ends up being 151.0416666666667. which you can simplify to a smaller number if about 151 or even round it up to 152

Simone Waters · Answer 2

Assuming that you mean 7500 a year, Alex would have to pay 30,000 over the course of 4 years. His scholarship will bring that total down to 29,750. If he has four years to save, each year he should be saving $7,437.50. (29,750/4). For each month, he should be saving a total of $619.79 (7,437.50/12)