This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuit
ion is expected to increase 4.5%. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. What is the approximate minimum amount Jarrod should save monthly?
Jared would have to save 460.670833333333333 dollars monthly
Explanation:
We need to find 4.5 percent of 5290 so we divide by 100 and multiply by 5290 and we get 238.05 then we add that to 5290 and we get 5528.05 then we need to see how much money per month would get him a total of 5528.05 so we divide by 12 and get 460.670833333333333 dollars
