Joaquin used the table to predict the cost of one year of education at a four-year public university.
| Category | Predicted Cost |
| ---------------- | -------------- |
| tuition | $9,450 |
| room and board | $7,920 |
| transportation | $2,680 |
| books and fees | $1,875 |
| other | $930 |
He received a grant for $1,900. What is the minimum amount Joaquin will need to contribute to his education annually if he chooses to live at home?
A. $13,035
B. $14,935
C. $20,955
D. $22,855
Answer (2)
$13 , 035
Explanation
Calculate Total Education Costs First, we need to calculate the total cost of Joaquin's education, excluding room and board since he will be living at home. The costs include tuition, transportation, books and fees, and other expenses.
Determine Total Cost The total cost is calculated as follows: T o t a lC os t = T u i t i o n + T r an s p or t a t i o n + B oo k s & F ees + Ot h er T o t a lC os t = $9 , 450 + $2 , 680 + $1 , 875 + $930 T o t a lC os t = $14 , 935
Subtract Grant Amount Next, we subtract the grant amount from the total cost to find the minimum amount Joaquin needs to contribute: A m o u n tN ee d e d = T o t a lC os t − G r an t A m o u n tN ee d e d = $14 , 935 − $1 , 900 A m o u n tN ee d e d = $13 , 035
Final Answer Therefore, the minimum amount Joaquin will need to contribute to his education annually is $13 , 035 .
Examples
Understanding the costs associated with education and managing finances is crucial for students. This problem demonstrates how to calculate the total expenses for a year of college and determine the amount needed after receiving a grant. This type of calculation can be applied to various real-life scenarios, such as budgeting for personal expenses, planning for investments, or managing a business's finances. By understanding these concepts, students can make informed decisions about their financial future and effectively manage their resources.
Joaquin's total education cost, excluding room and board, is $14,935. After accounting for his $1,900 grant, he will need to contribute $13,035 annually. The correct answer is A. $13,035.
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