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4.) Eric wants to attend a public four- year university. He estimates that the average cost of one year at this university is $19,500. He can save at most $325 a month . Without factoring in interest, grants, or scholarships, what is the minimum number of months he needs to save in order to be able to pay for one year of college?

A. 60
B. 62
C. 65
D. 67

Respuesta :

imlebcuz
Answer: A
$19,500 divided by $325 is 60. This means it would take Eric 60 months to save up for college.

The minimum number of months he needs to save in order to be able to pay for one year of college is 60. Therefore, option A is the correct answer.

Given that, the average cost of one year at this university is $19,500. He can save at most $325 a month.

We need to find the minimum number of months he needs to save in order to be able to pay for one year of college.

What is interest?

Interest, in its most simple form, is calculated as a per cent of the principal.

Now, the number of months=19,500/325=60

The minimum number of months he needs to save in order to be able to pay for one year of college is 60. Therefore, option A is the correct answer.

To learn more about the interest visit:

https://brainly.com/question/13324776.

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