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lexi expects to spend 8,400 ea h year on tuitton .lexi parents are going to contribute 40% towards lexi first year of college .lexi has 4 years to save for the remaining cost of her first year of college .how much will lexi need to save monthly to cover the remaining cost for her first year of college

Respuesta :

The amount to be spent is A=$8400.

The contribution from the parents is 40% which is equivalent to,

[tex]8400\times\frac{40}{100}=3360[/tex]

The remaining amount is,

[tex]8400-3360=5040[/tex]

The amount to be saved per month can be determined as,

[tex]\frac{5040}{4\times12}=105[/tex]

Thus, Lexi needs to save $105 per month for her first year of college.