### 14-3: TEKS Practice

• 1. Gavin wants to attend a certain college. He estimates that the cost to attend the first year will be \$16,700. Gavin's family has already saved \$7,170 and plans to deposit \$250 each month.

• a. How much additional money will the family save after another 3 years?

• b. Will the family have enough saved after another 3 years to cover the cost for at least the first year of college?

• 2. Arianna needs to save \$8,500 over the next 3 years to cover the costs for her first year of college. She devises the periodic savings plan shown. Devise an alternate periodic savings plan with a weekly deposit to save \$8,500 in 5 years. Round to the nearest cent.

• 3. To start saving for college, Tyler devised two periodic savings plans with monthly deposits, as shown. What is an advantage of each plan?

• 4. Aiden has already saved \$600 toward his first year of college. He devises a periodic savings plan with a weekly deposit to save \$7,500 in 4 years, as shown. How many years of weekly deposits does the alternative plan need to save \$7,000? Round to the nearest year.

• 5. Sophia estimates that the cost to attend the first year of college will be \$18,800. Sophia's family has already saved \$8,840. The family plans to use a periodic savings plan over the next 6 years to save enough for at least the first year of college. The family is considering the two plans shown.

 Plan A Deposit \$32 per week Plan B Deposit \$144 per month

With which plan would Sophia's family save a greater amount over the next 6 years? How much more?

• 6. Writing Caleb wants to attend a certain college in 3 years. He estimates that the cost to attend the first year will be \$17,600. Caleb's family has already saved \$5,100. The family devises a periodic savings plan to cover the cost for at least the first year. The family plans to deposit \$70 each week for the next 3 years.

• a. Will the family have enough saved in 3 years to cover the cost for at least the first year of college?

• b. Describe some reasons why a family might prefer a plan with weekly deposits and some reasons why a family might prefer a plan with monthly deposits.

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