Question

laura estimated the total cost of attending a private four-year university using the information in the table.

category	estimated cost – 1 year
room and board	$9,600
books	$2,125
lab and facilities fees	$850

laura received a grant that will pay for 30% of her annual estimated tuition and a scholarship that will pay for her books. what is the minimum laura should expect to contribute to her college education for all four years?

• $111,860
• $117,810
• $124,400
• $132,900

Explanation:

Step1: Calculate annual tuition contribution

First, find 70% of annual tuition (since grant covers 30%):
$\$29,500 \times (1 - 0.30) = \$29,500 \times 0.70 = \$20,650$

Step2: Sum annual out-of-pocket costs

Add tuition contribution, room/board, and lab fees (scholarship covers books):
$\$20,650 + \$9,600 + \$850 = \$31,100$

Step3: Calculate 4-year total contribution

Multiply annual out-of-pocket cost by 4:
$\$31,100 \times 4 = \$124,400$

Answer:

$\$124,400$ (Option C)