Answer:
Callie's comparison of two options for college education
The true statement is:
She would save $11,300 by choosing option A.
Step-by-step explanation:
Cost Analyses:
Option A: Community College + University Total Expenses
Tuition & Fees $5,800 ($2,900 x 2) + $19,000 ($9,500 x 2) = $24,800
Scholarships ($1,600) ($800 x 2) + ($20,000) ($10,000 x 2)=($21,600)
Room & Board $2,500 ($1,250 x 2) + $23,000 ($11,500 x 2) = $25,500
Work-Study + ($4,000) ($2,000 x 2) = ($4,000)
Total Cost $6,700 + $18,000 = $24,700
Option B: 4 years' University
Tuition & Fees $38,000 ($9,500 x 4)
Scholarships ($40,000) ($10,000 x 4)
Room & Board $46,000 ($11,500 x 4)
Work-Study ($8,000) ($2,000 x 4)
Total Cost $36,000
Difference between the two options = $11,300 ($36,000 - $24,700
Answer: She would save $11,300 by choosing option A
Step-by-step explanation:
Community College Financial Analysis:
Tuition and fees = 2900
Scholarship and grant = 800
Rooms and board = 1250
University Financial Analysis:
Tuition and fees = 9500
Scholarship and grant = 10000
Rooms and board = 11500
Work study - 2000
Option A :
First two years at college :2 × (2900 + 1250 - 800)
2 × (3350) = $6700
2 years at university : 2 × (9500 +11500 - 2000 - 10000)
2 × 9000 = 18000
Option A total = $(18,000 + 6700) = $24,700
Option B :
4 years at university : 4 × (9500 +11500 - 2000 - 10000)
4 × 9000 = $ 36000
She would be saving $(36,000 - 24,700) = $11,300 by choosing option A
