23
QuizMultiple Choice

Understanding College Savings — Unit test

Question 23 • SHS Lifetime Fitness - 2021

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. What is the minimum amount he should save per month to achieve his goal?

Answer
A
$350.00
B
$375.00
C
$425.00
D
$450.00
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Iman has 48 months to save $18,000, the maximum…