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

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
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ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter13: Investing In Mutual Funds, Etfs, And Real Estate
Section: Chapter Questions
Problem 9FPE
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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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