The annual tuition at a public two-year college last year was $3,200. For the new school year, Elizabeth’s first year in college, the tuition is expected to increase 5%. She saved the same amount monthly to prepare for the cost of her tuition. What is the minimum amount Elizabeth should have saved monthly during the previous year?
I think we're being asked how much does Elizabeth save per month so that after a year she has 5% more than $3200. That's {1.05 \times 3200}{12} = \$280 per month
