iman has 48 months to save $18,000, the maximum amount he estimates his first - year of college will cost…

iman has 48 months to save $18,000, the maximum amount he estimates his first - year of college will cost. he does not want to depend on interest, and does not consider interest when determining his minimum monthly savings goal.\nwhat is the minimum amount he should save per month to achieve his goal?\n$350.00\n$375.00\n$425.00\n$450.00

iman has 48 months to save $18,000, the maximum amount he estimates his first - year of college will cost. he does not want to depend on interest, and does not consider interest when determining his minimum monthly savings goal.\nwhat is the minimum amount he should save per month to achieve his goal?\n$350.00\n$375.00\n$425.00\n$450.00

Answer

Explanation:

Step1: Identify total amount and time

Total amount = $18000$, Time = 48 months.

Step2: Calculate monthly savings

Monthly savings = $\frac{18000}{48}$ = 375.

Answer:

B. $375.00$