4
QuizMultiple Choice

Planning for the Cost of College — Quiz

Question 4 • Economics and Personal Finance

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?

Answer
A
$150
B
$250
C
$450
D
$350
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