The hartman family is saving $400 monthly for ronald’s college education. the family anticipates they will need to contribute $20,000 toward his first year of college, which is in 4 years. which best explains whether the family will have enough money in 4 years?
a. the family will not have enough money. they will have saved only $16,000.

b. the family will not have enough money. they will have saved only $19,200.

c. the family will likely have enough money. they will have saved $16,000 and have accumulated interest.

d. the family will likely have enough money. they will have saved $19,200 and have accumulated interest.

B. The family will not have enough money. They will have saved only $19,200

Step-by-step explanation:

Hi, to answer this question we have to analyze the information given:

Savings: $400 monthly  

The first year of college is in 4 years, equals to 48 months ( 12 months of a year multiplied by 4).

So, we have to multiply the monthly savings ($400) by the number of months in one year (48).

$400 x 48 = $19,200

There is no mention of interest in the statement or mention of putting the savings in a bank.

In conclusion, the correct option is B. The family will not have enough money. They will have saved only $19,200.

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step-by-step explanation:

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