Problem
Save \& Exit Certify Lesson: 6.5 Budgeting CEYARIEAH RICHARDSON Question 20 of 20, Step 1 of 1 $19 / 20$ Correct Using the information provided in the given table, determine how much monthly income would be necessary to budget in order to cover the expenses of attending a loc: college for the 9 -month academic year. Round your answer to the nearest cent, if necessary. \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{\begin{tabular}{c} Estimated Cost of Local College Next \\ Academic Year \end{tabular}} \\ \hline Budget Category & On-Campus Student \\ \hline University Fees & $\$ 8653$ \\ \hline Room \& Board & $\$ 10,377$ \\ \hline Books \& Supplies & $\$ 1238$ \\ \hline Transportation & $\$ 609$ \\ \hline Personal & $\$ 1254$ \\ \hline Health Insurance & $\$ 1132$ \\ \hline Loan Fees & $\$ 197$ \\ \hline \end{tabular} Answer Keypad How to encer your answer lapens in new window) Kaybourd Snortcuts
Solution
Step 1 ：First, we need to add up all the expenses for the academic year. This includes university fees, room and board, books and supplies, transportation, personal expenses, health insurance, and loan fees. The total expenses for the academic year are: \(8653 + 10377 + 1238 + 609 + 1254 + 1132 + 197 = 23460\)
Step 2 ：Next, we need to determine the monthly cost. Since the academic year is 9 months, we divide the total expenses by 9: \(\frac{23460}{9} = 2606.6666666666665\)
Step 3 ：Finally, we round the monthly cost to the nearest cent to get the final answer: \(\boxed{2606.67}\)
