To determine how much Elisa will need to borrow from a student loan for all four years, we need to break down the costs and payments she has listed annually and then calculate the total balance over the four years. Here's a detailed step-by-step solution:
1. Calculate the Total Annual Costs:
- Tuition & Fees: \[tex]$9,500
- Room & Board: \$[/tex]11,500
- Total Costs per Year: \[tex]$9,500 + \$[/tex]11,500 = \[tex]$21,000
2. Calculate the Total Annual Payments:
- Grants & Scholarships: \$[/tex]9,500
- Work-Study: \[tex]$8,000
- Total Payments per Year: \$[/tex]9,500 + \[tex]$8,000 = \$[/tex]17,500
3. Determine the Balance per Year:
- Balance per Year: Total Costs per Year - Total Payments per Year
- Balance per Year: \[tex]$21,000 - \$[/tex]17,500 = \[tex]$3,500
4. Calculate the Total Balance Needed for All Four Years:
- Since Elisa will need to cover this balance each year and she's identifying the costs for four years:
- Total Balance for All Four Years: Balance per Year × 4 years
- Total Balance for All Four Years: \$[/tex]3,500 × 4 = \[tex]$14,000
Thus, the amount Elisa will need to borrow for all four years is:
\[ \$[/tex]14,000 \]
The correct answer is:
[tex]\[ \$14,000 \][/tex]
