Michael will attend college in 5 years. he anticipates he will need $19,000 to pay for the first year. he currently has $6,400 in a savings account.

without including any interest earned, what is a reasonable estimate of the amount michael needs to deposit into his savings account each month over the next 5 years to be able to pay for his first year of college?

$200

$350

$500

$650

As given, Michael needs $19000 as the fee for the first year of his college.

At present he has $6400. So, he needs to save  

in the next 5 years.

To calculate the total months needed to save $12600, we will divide the amount with 60 months(5 years)

Hence, Michael needs to save $210 each month for the next 5 years to get a total of $19000.

This amount is nearest to option A = $210. Hence, the correct answer is option A.