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6. Jeffrey is a senior in high school, and he estimates that he will need to contribute $7,000/year
towards his college education. Jeffrey has one year to save enough for his first year. Complete the
table to show how much Jeffrey should save each month based on how much he might already have
in savings in order to meet his goal.

6 Jeffrey is a senior in high school and he estimates that he will need to contribute 7000year towards his college education Jeffrey has one year to save enough class=

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sqdancefan

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Answer:

  {$583.33, $500.00, $375.00, $166.67}

Step-by-step explanation:

Jeffrey wants to find the monthly payment p that will bring a balance of b to a total of 7000 in one year:

  12p +b = 7000

Solving for p, we find ...

  12p = 7000 -b

  p = (7000 -b)/12

We want to evaluate this for b = {0, 1000, 2500, 5000}. We get ...

  p = (7000 -{0, 1000, 2500, 5000})/12 = {7000, 6000, 4500, 2000}/12

  p = {583.33, 500.00, 375.00, 166.67}

The values that go in Jeffrey's table, left to right, are ...

  {$583.33, $500.00, $375.00, $166.67}

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