This year, the annual tuition at a public four-year university is $5,290. next year when jarrod attends his first year, the tuition is expected to increase 4.5%. jarrod has 1 year to save the amount of money equal to the tuition for his first year. what is the approximate minimum amount jarrod should save monthly?

The approximate minimum amount that Jarrod should save monthly in order to pay the annual tuition is of $461.

Step-by-step explanation:

If this year the annual tuition at a public four-year university is $5,290, and next year is going to increase 4.5%, this will climb up to $5,528 (5290 + 5290x4.5/100).

Therefore, the approximate minimum amount that Jarrod should save monthly would be of $461, as 5528/12 is 460.6.