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Elisa is nearing graduation. She just met with her counselor, and he showed her this information:

\begin{tabular}{|c|c|}
\hline \multicolumn{2}{|c|}{Elisa's College Costs \& Payment Options per Year} \\
\hline Costs & Methods of Payment \\
\hline Tuition \& Fees & Grants \& Scholarship \\
\hline \[tex]$9,500 & \$[/tex]9,500 \\
\hline Room \& Board & Work-Study \\
\hline \[tex]$11,500 & \$[/tex]8,000 \\
\hline
\end{tabular}

If she pays the balance with a student loan, how much will she need to borrow for all four years?

A. \[tex]$0
B. \$[/tex]3,500
C. \[tex]$11,500
D. \$[/tex]14,000

Sagot :

GinnyAnsweridn
To determine how much Elisa will need to borrow from a student loan for all four years, we need to break down the costs and payments she has listed annually and then calculate the total balance over the four years. Here's a detailed step-by-step solution:

1. Calculate the Total Annual Costs:
- Tuition & Fees: \[tex]$9,500 - Room & Board: \$[/tex]11,500
- Total Costs per Year: \[tex]$9,500 + \$[/tex]11,500 = \[tex]$21,000 2. Calculate the Total Annual Payments: - Grants & Scholarships: \$[/tex]9,500
- Work-Study: \[tex]$8,000 - Total Payments per Year: \$[/tex]9,500 + \[tex]$8,000 = \$[/tex]17,500

3. Determine the Balance per Year:
- Balance per Year: Total Costs per Year - Total Payments per Year
- Balance per Year: \[tex]$21,000 - \$[/tex]17,500 = \[tex]$3,500 4. Calculate the Total Balance Needed for All Four Years: - Since Elisa will need to cover this balance each year and she's identifying the costs for four years: - Total Balance for All Four Years: Balance per Year × 4 years - Total Balance for All Four Years: \$[/tex]3,500 × 4 = \[tex]$14,000 Thus, the amount Elisa will need to borrow for all four years is: \[ \$[/tex]14,000 \]

The correct answer is:
[tex]\[ \$14,000 \][/tex]
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