25
QuizMultiple Choice

Planning for the Cost of College

Question 25 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

Darian has decided to attend an out-of-state public four-year university. His expected expenses are shown in the table.CategoryAnnual Expected Expense ($)tuition$18,900room/board$7,650books/fees$1,475other expenses$2,350Darian expects to get $7,500 in grants each year. What is the minimum amount he should expect to contribute for four years at the university?

Answer
A
$22,875
B
$91,500
C
$114,000
D
$151,500

Explanation

Add the annual expenses: $18,900 + $7,650 + $1,475 + $2,350 = $30,375. Subtract the $7,500 annual grant, leaving $22,875 per year for Darian to contribute. Over four years, $22,875 × 4 = $91,500, so the minimum amount is $91,500.

AI-written and checked against the verified answer.

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