Question

What is the cost per year of raising a child from birth to 18 years old, and paying for 4 years of private college? Round to the nearest dollar.

Answer 1

Answer:

The question is missing some details,find those details below:

Child Costs                       In 5 years

Birth to 5 years old             $79,600

5 to 18 years old               $145,700

4-year Public College          $30,000

4-year Private College        $120,400

A) $12,517

B) $4,422

C) $8,094

D) $15,714

The correct answer to the question is option D $15,714

Explanation:

The cost per year of raising a child from birth to 18 years and paying 4 years private college is calculated by adding together the cost of child raising from birth to 5 years plus the cost from 5 years to 18 years together with cost of 4-year private college,all divided the number of years involved (5+13+4)

=$79600+$145700+$120400/22 years

=$15714

Please note:

Birth to 5 years old                5

5 to 18 years old                    13

4-year Private College           4

Total                                        22 years