21
QuizMultiple Choice

Planning for the Cost of College

Question 21 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

David estimates that he will have expenses totaling $24,870 for one year of college. He will receive $7,560 in grants. How much will David have to contribute each semester during this year?

Answer
A
$4,875
B
$8,655
C
$9,750
D
$17,310

Explanation

Subtract the grants from the yearly expenses: $24,870 − $7,560 = $17,310 that David must contribute for the year. A year has two semesters, so divide $17,310 by 2 to get $8,655 per semester. The correct choice is $8,655.

AI-written and checked against the verified answer.

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