8.12.G Estimate the Cost of a College Education & Devise a Periodic Savings Plan

Quiz by Texas Education Agency

Mathematics
Texas Essential Knowledge and Skills (TEKS)

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8.12.G: Personal Financial Literacy

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3 questions
• Q1
Tuition for one year at a state university is about \$13,000. Devon would like to attend this university and will save money each month for the next 4 years. His parents will give him \$5,200 for his first year of tuition. Which plan shows the minimum amount of money Devon must save to have enough money to pay for his first year of tuition?
Save \$108.33 per month for the next 4 years
Save \$270.83 per month for the next 4 years
Save \$162.50 per month for the next 4 years
Save \$650.00 per month for the next 4 years
60s
8.12.G: Personal Financial Literacy
• Q2
Alejandra and her family are discussing how to pay for her college education. The cost of tuition at the college that Alejandra wants to attend is \$9,000 per year. Alejandra’s parents will pay 85% of the tuition cost every year, and she will pay the rest. Alejandra has one year to save enough money to attend her first year of college. What is the minimum amount of money she should save every month in order to reach her goal?
\$1,350.00
\$112.50
\$28.12
\$637.50
60s
8.12.G: Personal Financial Literacy
• Q3
An eighth-grade student estimated that she needs \$8,800 for tuition and fees for each year of college. She already has \$5,000 in a savings account. The table shows the projected future value of the account in five years based on different monthly deposits. The student wants to have enough money saved in five years to pay the tuition and fees for her first two years of college. Based on the table, what is the minimum amount she should deposit in the savings account every month?
\$400
\$100
\$200
\$300
60s
8.12.G: Personal Financial Literacy

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