carly will be going to college in 3 years. she anticipates that she will need $12,000 to pay for the first…

carly will be going to college in 3 years. she anticipates that she will need $12,000 to pay for the first year. she currently has $2,900 in a savings account. without including any interest earned, what is a reasonable estimate of the amount carly needs to deposit into the savings account per month over the next 3 years to be able to pay for her first year of college?\n$150\n$250\n$350\n$450

carly will be going to college in 3 years. she anticipates that she will need $12,000 to pay for the first year. she currently has $2,900 in a savings account. without including any interest earned, what is a reasonable estimate of the amount carly needs to deposit into the savings account per month over the next 3 years to be able to pay for her first year of college?\n$150\n$250\n$350\n$450

Answer

Explanation:

Step1: Calculate money needed

Find the amount of money still needed. Subtract the current savings from the total needed for the first - year of college. $12000 - 2900=9100$

Step2: Calculate monthly deposit

There are $3$ years, and since $1$ year has $12$ months, $3$ years have $3\times12 = 36$ months. Divide the remaining amount by the number of months. $\frac{9100}{36}\approx252.78$

Answer:

$250$ (closest to the calculated value among the options)