Answer:
$2447.40.
Step-by-step explanation:
We have been given that your parents have been advised to save 5% of their income for your college education, which would include money for housing, tuition, books, and fees. They had an average household income of $48,948.
Let us find 5% of average household income to find the savings of your parents in one year.
Therefore, your parents would have saved $2447.40 is one year.
