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A 8th grade student has 5 years
to save up enough money to
pay for her 4 years of college.
She is estimating each year will
cost $7,500. If she has $5,000
to start a savings account, then
based on the table, what is her
minimum monthly deposit
needed to reach her goal?
Initial Balance
(dollars)
$5,000
$5,000
$5,000
$5,000
Monthly Deposit
(dollars)
$100
$200
$300
$400
Account Value in
Five Years
(dollars)
$12,273
$18,737
$25,202
$31,667

A 8th grade student has 5 years to save up enough money to pay for her 4 years of college She is estimating each year will cost 7500 If she has 5000 to start a class=

Respuesta :

Answer:

$400

Step-by-step explanation:

If college costs $7,500 per year, and she's going to go for 4 years, then she needs to save 4 x $7,500  = $30,000 total.  From the table, she would need to deposit $400 per month in order to have $31,667 in time for college.

Answer: $200

Step-by-step explanation:

Because in the table the minimum number is in the month when she save $200.

Initial balance is $5000

Account in value in five years is $18,737

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