Carly will be going to college in 3 years. she anticipates that she will need $12,000 to pay for the first year. she currently h
as $2,900 in a savings account. without including any interest earned, what is a reasonable estimate of the amount carly needs to deposit into the savings account per month over the next 3 years to be able to pay for her first year of college?
Carly needs to deposit $252.78 every month during 3 years to pay for her first year of college.
Step-by-step explanation:
First we have to know how much is the amount of money that Carly needs to complete the $12,000, this is:
She will have to save $9,100 in 3 years (this are 36 months), now we can calculate the amount of money that she have to save every month dividing the money by the number of months:
Carly needs to deposit $252.78 every month during 3 years to pay for her first year of college.