Question

In his first school year, Leo contributed $13,468 toward college expenses. In his second school year, the expenses are expected to increase by 4%. What is the approximate minimum amount Leo should expect to contribute in his second school year?
A $13,472
B $13,868
C $14,007
D $18,855

Answer 1

First of all, you must find 4% of 13,468.

13,468 × 0.04 = 538.72

Then add them together.

13,468 + 538.72 =14,006.72

Round up, and you have your answer.

C. $14,007

Answer 2

13,468 x 0.04 = $538.72
$13,468 + $538.72 = $14,006.72
Estimated to be $14,007