a) Smith family spend per year to raise their child from 5 to 18 years old.
b) If the family decides to send their child to a 4-year public college, they will spend per year
c) Valnez family will be pay per year to raise the child from birth to 18 years old
d) is the cost per year of raising a child from birth to 18 years old, and paying for 4 years of private college
Step-by-step explanation:
Part a) How much will the Smith family spend per year to raise their child from 5 to 18 years old? Round to the nearest dollar.
The cost from 5 to 18 years old is $145,700
Per year cost will be:
Divide the total amount by the number of years from 5 to 18 years. i.e 18-5 = 13 years
Cost per year:
Cost per year:
So, Smith family spend per year to raise their child from 5 to 18 years old.
Part b) If the family decides to send their child to a 4-year public college, how much will they spend per year?
The cost of 4 year Public College $30,000
Cost per year:
Cost per year:
So, If the family decides to send their child to a 4-year public college, they will spend per year
Part c) How much will the Valnez family pay per year to raise the child from birth to 18 years old
Cost from Birth to 5 years old $79,600
Cost from 5 to 18 years old $145,700
Total years: 18
Cost per year:
Cost per year:
Valnez family will be pay per year to raise the child from birth to 18 years old
Part d) 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.
From birth to 18 years (found in part c)
Cost from birth to 18 years: $225300
Cost of 4-year Private College: $120,400
Total Cost:
Total Cost:
Total years: 18+4 = 22
Cost per year:
Cost per year:
is the cost per year of raising a child from birth to 18 years old, and paying for 4 years of private college