pedro plans to attend verdan technical college for 2 years. the cost of tuition for one year is $10,600…

pedro plans to attend verdan technical college for 2 years. the cost of tuition for one year is $10,600. pedro earned a scholarship worth $1,500 each year. he has saved a total of $5,000, and his parents have saved $7,500 for him to use. he will need student loans for the rest. assuming the cost of tuition stays the same, how much money will pedro need to take out in student loans to pay for 2 years of college?

pedro plans to attend verdan technical college for 2 years. the cost of tuition for one year is $10,600. pedro earned a scholarship worth $1,500 each year. he has saved a total of $5,000, and his parents have saved $7,500 for him to use. he will need student loans for the rest. assuming the cost of tuition stays the same, how much money will pedro need to take out in student loans to pay for 2 years of college?

Answer

Answer:

$25200$

Explanation:

Step1: Calculate total tuition for 2 years

$10600\times2 = 21200$

Step2: Calculate total non - loan funds for 2 years

$(1500 + 5000+7500)\times2=28000$

Step3: Calculate loan amount

$21200\times2 - 28000=25200$