the annual tuition at a public two - year col...
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? $267 $280 $308 $400
Answer
# Explanation:
## Step1: Calculate new - year tuition
The tuition last year was $3200. It is expected to increase by 5%. The new - year tuition $T$ is calculated as $T = 3200\times(1 + 0.05)=3200\times1.05 = 3360$.
## Step2: Calculate monthly savings
There are 12 months in a year. To find the monthly savings $M$, we divide the new - year tuition by 12. So $M=\frac{3360}{12}=280$.
# Answer:
$280$ (corresponding to the option: $280$)