Answer:
$162.50 per month for the next 4 years
Step-by-step explanation:
Here are the options to this question :
Save $270.83 per month for the next 4 years
Save $162.50 per month for the next 4 years
Save $650.00 per month for the next 4 years
Save $108.33 per month for the next 4 years
If Devon's parents would give him $5,200 for his first year of tuition, Devon needs to save a minimum of :
$13,000 - $5,200 = $7,800
If he saves per month for the next four months, he would save 48 times ( 12 months in a year multiplied by 4 years)
The minimum he should save per month = $7800 / 48 = $162.50
