Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Experience the ease of finding reliable answers to your questions from a vast community of knowledgeable experts. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
Let's break down Annika's college costs and financial aid package in a detailed step-by-step manner to determine how much she will need to pay each year from her own savings and loans.
### 1. Calculate Total Costs
The total annual cost consists of the sum of tuition & fees and room & board:
- Tuition & Fees: \[tex]$21,500 - Room & Board: \$[/tex]13,500
#### Total Costs:
[tex]\[ \text{Total Costs} = \$21,500 + \$13,500 = \$35,000 \][/tex]
### 2. Calculate Total Financial Aid
The total financial aid consists of the sum of grants & scholarships, work-study, and parental contributions:
- Grants & Scholarships: \[tex]$10,500 - Work-Study: \$[/tex]9,000
- Parents' Contribution: \[tex]$7,500 #### Total Financial Aid: \[ \text{Total Financial Aid} = \$[/tex]10,500 + \[tex]$9,000 + \$[/tex]7,500 = \[tex]$27,000 \] ### 3. Determine Amount Annika Needs to Pay The amount Annika needs to pay from her own savings and loans is the total costs minus the total financial aid received: \[ \text{Annika's Needed Contribution} = \text{Total Costs} - \text{Total Financial Aid} \] \[ \text{Annika's Needed Contribution} = \$[/tex]35,000 - \[tex]$27,000 = \$[/tex]8,000
\]
### Conclusion
Annika will need to pay \[tex]$8,000 each year from her own savings and loans. Therefore, the correct answer is: \[ \$[/tex]8,000
\]
### 1. Calculate Total Costs
The total annual cost consists of the sum of tuition & fees and room & board:
- Tuition & Fees: \[tex]$21,500 - Room & Board: \$[/tex]13,500
#### Total Costs:
[tex]\[ \text{Total Costs} = \$21,500 + \$13,500 = \$35,000 \][/tex]
### 2. Calculate Total Financial Aid
The total financial aid consists of the sum of grants & scholarships, work-study, and parental contributions:
- Grants & Scholarships: \[tex]$10,500 - Work-Study: \$[/tex]9,000
- Parents' Contribution: \[tex]$7,500 #### Total Financial Aid: \[ \text{Total Financial Aid} = \$[/tex]10,500 + \[tex]$9,000 + \$[/tex]7,500 = \[tex]$27,000 \] ### 3. Determine Amount Annika Needs to Pay The amount Annika needs to pay from her own savings and loans is the total costs minus the total financial aid received: \[ \text{Annika's Needed Contribution} = \text{Total Costs} - \text{Total Financial Aid} \] \[ \text{Annika's Needed Contribution} = \$[/tex]35,000 - \[tex]$27,000 = \$[/tex]8,000
\]
### Conclusion
Annika will need to pay \[tex]$8,000 each year from her own savings and loans. Therefore, the correct answer is: \[ \$[/tex]8,000
\]
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.