Answered

Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Get immediate and reliable answers to your questions from a community of experienced professionals on our platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Jorge is attending college next year. He just got information on the college costs and the financial aid package the college is offering. Jorge knows his parents can contribute [tex]\[tex]$4,500[/tex] each year.

\begin{tabular}{|c|c|}
\hline Jorge's College Costs \& Financial Aid Package per Year \\
\hline Costs & Financial Aid Package \\
\hline Tuition \& Fees & Grants \& Scholarship \\
\hline [tex]\$[/tex]26,000[/tex] & [tex]\[tex]$18,500[/tex] \\
\hline Room \& Board & Work-Study \\
\hline [tex]\$[/tex]12,500[/tex] & [tex]\[tex]$8,500[/tex] \\
\hline
\end{tabular}

How much will Jorge need to pay each year from his own savings and from loans?

A. [tex]\$[/tex]3,000[/tex]

B. [tex]\[tex]$7,000[/tex]

C. [tex]\$[/tex]7,500[/tex]

D. [tex]\$11,500[/tex]

Sagot :

GinnyAnswer
To determine how much Jorge needs to pay each year from his own savings and loans, we will follow these steps in detail.

1. Calculate Total College Costs:
- Tuition and Fees: \[tex]$26,000 - Room and Board: \$[/tex]12,500
- Total College Costs = Tuition and Fees + Room and Board

[tex]\[ \text{Total College Costs} = 26000 + 12500 = 38500 \][/tex]

2. Calculate Total Financial Aid:
- Grants and Scholarship: \[tex]$18,500 - Work-Study: \$[/tex]8,500
- Total Financial Aid = Grants and Scholarship + Work-Study

[tex]\[ \text{Total Financial Aid} = 18500 + 8500 = 27000 \][/tex]

3. Calculate Remaining Costs:
- Parents' Contribution: \[tex]$4,500 - Total Financial Aid: \$[/tex]27,000
- Total Remaining Costs = Total College Costs - Total Financial Aid - Parents' Contribution

[tex]\[ \text{Remaining Costs} = 38500 - 27000 - 4500 = 7000 \][/tex]

Therefore, the amount Jorge needs to pay each year from his own savings and loans is:

[tex]\[ \boxed{7000} \][/tex]
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.