Kari plans to attend a 2-year community college. She will receive $4,500 in scholarships and grants each year, and she will earn $1,500 each year through a work study program.



Including her financial aid, what is Kari’s estimated cost per year? $

Kari’s family will contribute $3,000 each year. How much will Kari need to contribute? $

Kari has one year to save enough for her first year’s contributions. Complete each statement to show how much Kari will need to save each month based on her current savings.

If Kari currently has $0 in savings, she will need to save $
each month.

If Kari currently has $1,000 in savings, she will need to save $
each month.

If Kari currently has $2,000 in savings, she will need to save $
each month.

Answer:

Step-by-step explanation:

4 year Public University

Tuition and fees $ 8500

Room and board $ 6700

Books and supplies $1250

misc expenses $ 700

Total for 1 year

8500+6700+1250+700

= $ 17150

Total for 4 years 4* 17150 = $68600

4 year Private University

Tuition and fees $ 25100

Room and board $ 8000

Books and supplies $ 1300

misc expenses $ 750

Total for 1 year

25100+8000+1300+750

= $ 35150

Total for 4 years 4* 35150 = $ 140600

2 Year Community College

2 Year Community College

Tuition and fees $ 4400

Room and board $ 5000

Books and supplies $ 1100

misc expenses $ 800

Total for 1 year

4400+5000+1100+800

= $ 11300

Total for 2 years 2* 11300 = $ 22600

now given

kari will get $4500 in scholarships and grants yearly and $1500 yearly through work study program

so in total kari will get in financial aid = $6000 yearly

so in 2 years she will get total = 2*6000 = $12000 financial aid

kari's estimated cost per year = total fee of college for 1 year - total financial aid for 1 year

                                           = $11300 - $ 6000 = $5300

Kari's estimated cost per year = $5300

then estimated cost for two years = 2* 5300 = $10600

given Kari's family will contribute $3000 yearly

so for two years Kari will get = 2*3000 = $6000 from family

If kari has 1 year to save for 1st year's contribution then

a) kari has $0 in savings

kari needs to save for year = estimated cos per year - contribution from family per year

                                      = $5300 - $ 3000 = $2300

as kari has $0 savings so kari needs to save $2300 in 1 year

so kari needs to save an amount = 2300/12 = $191.666667 monthly

b) kari has $1000 in saving

then kari needs to save an amount for 1 year = estimated cost per year - contribution from family per year - kari's initial savings

Amount to be saved for 1 year = $5300 - $3000 - $1000

                                          = $1300

so kari needs to save an amount of = 1300/12 = $108.3333333 monthly

c) Kari has $2000 in saving

then kari needs to save an amount for 1 year = estimated cost per year - contribution from family per year - kari's initial savings

Amount to be saved for 1 year = $5300 - $3000 - $2000

                                          = $300

so kari needs to save an amount of = 300/12 = $25 monthly

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