annika is attending college next year. she just got information on the college costs and the financial aid…

annika is attending college next year. she just got information on the college costs and the financial aid package the college is offering. annika knows her parents can contribute $7,500 each year.\n\n| annikas college costs & financial aid package per year | |\n|--|--|--|\n| costs | financial aid package |\n| tuition & fees | grants & scholarship |\n| $21,500 | $10,500 |\n| room & board | work - study |\n| $13,500 | $9,000 |\n\nhow much will annika need to pay each year from her own savings and from loans?\n\n$8,000\n$11,000\n$15,500\n$17,000

annika is attending college next year. she just got information on the college costs and the financial aid package the college is offering. annika knows her parents can contribute $7,500 each year.\n\n| annikas college costs & financial aid package per year | |\n|--|--|--|\n| costs | financial aid package |\n| tuition & fees | grants & scholarship |\n| $21,500 | $10,500 |\n| room & board | work - study |\n| $13,500 | $9,000 |\n\nhow much will annika need to pay each year from her own savings and from loans?\n\n$8,000\n$11,000\n$15,500\n$17,000

Answer

Explanation:

Step1: Calculate total college costs

$21500 + 13500=35000$ (Sum of tuition & fees and room & board)

Step2: Calculate total financial - aid

$10500 + 9000 = 19500$ (Sum of grants & scholarship and work - study)

Step3: Calculate amount covered by parents and financial - aid

$19500+7500 = 27000$ (Sum of financial - aid and parents' contribution)

Step4: Calculate amount Annika needs to pay

$35000 - 27000=8000$ (Total costs minus amount covered)

Answer:

$8000$