Question

Callie is comparing the costs of two options for her college education.

Answer 1

Answer:

Callie's comparison of two options for college education

The true statement is:

She would save $11,300 by choosing option A.

Step-by-step explanation:

Cost Analyses:

Option A:            Community College  + University               Total Expenses

Tuition & Fees    $5,800 ($2,900 x 2) + $19,000 ($9,500 x 2)    = $24,800

Scholarships       ($1,600) ($800 x 2)   + ($20,000) ($10,000 x 2)=($21,600)

Room & Board    $2,500 ($1,250 x 2)  + $23,000 ($11,500 x 2) =   $25,500

Work-Study                                            + ($4,000)  ($2,000 x 2)  = ($4,000)

Total Cost           $6,700                       + $18,000      =                    $24,700

Option B:            4 years' University

Tuition & Fees    $38,000 ($9,500 x 4)

Scholarships       ($40,000) ($10,000 x 4)

Room & Board    $46,000 ($11,500 x 4)

Work-Study         ($8,000)  ($2,000 x 4)

Total Cost          $36,000

Difference between the two options = $11,300 ($36,000 - $24,700

Answer 2

Answer: She would save $11,300 by choosing option A

Step-by-step explanation:

Community College Financial Analysis:

Tuition and fees = 2900

Scholarship and grant = 800

Rooms and board = 1250

University Financial Analysis:

Tuition and fees = 9500

Scholarship and grant = 10000

Rooms and board = 11500

Work study - 2000

Option A :

First two years at college :2 × (2900 + 1250 - 800)

2 × (3350) = $6700

2 years at university : 2 × (9500 +11500 - 2000 - 10000)

2 × 9000 = 18000

Option A total = $(18,000 + 6700) = $24,700

Option B :

4 years at university : 4 × (9500 +11500 - 2000 - 10000)

4 × 9000 = $ 36000

She would be saving $(36,000 - 24,700) = $11,300 by choosing option A