Ryan is planning to attend a public university after he graduates from high school in 2 years. He is devising a plan to save money each month to help with the expenses of attending the university. The cost of attending the public university for one-year is $24,500. His family has promised to contribute $12,700 each year he is in school. What is the minimum amount of money Ryan must contribute to his savings per month for the next 2 years to have enough money to pay for his first year of tuition? a
$491.67
b
$459.58
c
$387.51
d
$587.85