Answer:
She needs to save $500 each month over the next 2 years to fulfill her first year of tuition.
Step-by-step explanation:
Consider the provided information.
She needs $48,000 per year for tuition.
The university offered financial aid that covers 50% of her tuition expenses.
It means she needs to pay only 50% of $48,000 per year for the tuition fee.
Now she needs $24,000 for tuition expenses.
Her parents contribute $10,000 for tuition each year and she receives a local scholarship for $2,000.
Now, for the first year of tuition, she needs=$24,000-$10,000-$2000
=$12,000
In 2 years there are 24 months, which means she needs to save $12,000 in 24 months.
Amount she needs to save each month =
Hence, she needs to save $500 each month over the next 2 years to fulfill her first year of tuition.