Answer:
She needs to save $500 each month over the next 2 years to fulfill her first year of tuition.
Step-by-step explanation:
Consider the provided information.
She needs $48,000 per year for tuition.
The university offered financial aid that covers 50% of her tuition expenses.
It means she needs to pay only 50% of $48,000 per year for the tuition fee.
![50\% \times 48,000=\frac{50}{100}\times48,000](https://tex.z-dn.net/?f=50%5C%25%20%5Ctimes%2048%2C000%3D%5Cfrac%7B50%7D%7B100%7D%5Ctimes48%2C000)
![=24,000](https://tex.z-dn.net/?f=%3D24%2C000)
Now she needs $24,000 for tuition expenses.
Her parents contribute $10,000 for tuition each year and she receives a local scholarship for $2,000.
Now, for the first year of tuition, she needs=$24,000-$10,000-$2000
=$12,000
In 2 years there are 24 months, which means she needs to save $12,000 in 24 months.
Amount she needs to save each month = ![\dfrac{\$12000}{24}=\$500](https://tex.z-dn.net/?f=%5Cdfrac%7B%5C%2412000%7D%7B24%7D%3D%5C%24500)
Hence, she needs to save $500 each month over the next 2 years to fulfill her first year of tuition.