With the work-study and her family's contribution, for how many years of college will be paid?  Round to the nearest hundredth.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Maria is planning to attend a four-year university.  The list below shows the estimated costs for one year.  Her family devised a periodic savings plan that will have a total value of $48,000 by the time Maria will begin college.  Maria will participate in a work-study program that pays for her room and board each year.  With the work-study and her family's contribution, for how many years of college will be paid?  Round to the nearest hundredth.

Four-Year University Estimated Costs

Tuition and Fees.            $13,200.00

Room and Board.              $3,500.00

Books and Supplies          $1,300.00

Personal Expenses.          $1,700.00

 a
about 2.96
 b
about 2.67
 c
about 2.61
 d
about 2.44
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