5
QuizMultiple Choice

Understanding College Savings

Question 5 • SNHS NV-Civics and Economics

Annika is attending college next year. She just got information on the college costs and the financial aid package the college is offering. Annika knows her parents can contribute $7,500 each year.Annika’s College Costs & Financial Aid Package per YearCostsFinancial Aid PackageTuition & FeesGrants & Scholarship$21,500$10,500Room & BoardWork-Study$13,500$9,000How much will Annika need to pay each year from her own savings and from loans?

Answer
A
$8,000
B
$8,000
C
$11,000
D
$11,000
E
$15,500
F
$15,500
G
$17,000
H
$17,000

Explanation

Annika’s total yearly costs are $21,500 + $13,500 = $35,000. Subtract her $10,500 in grants and scholarships, $9,000 in work-study, and her parents’ $7,500 contribution: $35,000 − $10,500 − $9,000 − $7,500 = $8,000. She needs $8,000 from her own savings and loans, matching the choice “$8,000.”

AI-written and checked against the verified answer.

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