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melomori [17]
3 years ago
7

This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuit

ion is expected to increase 4.5%. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. What is the approximate minimum amount Jarrod should save monthly?
Choices:
A- $441
B- $461
C- $553
D- $639
Business
2 answers:
frutty [35]3 years ago
7 0
The answer is B, 461$
sergiy2304 [10]3 years ago
4 0

Answer:

The answer is: B) $461

Explanation:

Next year tuition for a public university will be approximately $5,528.05:

next year's tuition = current tuition x (1 + 4.5%) = $5,290 x 1.045

If Jarrod wants to save enough money to pay for it, he needs to save approximately $461 per month (= $5,528.05 / 12).

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