Mathematics
An eighth-grade student estimated that she needs $9,500 for tuition and fees for each year of college. She already has $5,000 in a savings account. The table shows the projected future value of the account in five years based on different monthly deposits. Initial Balance (dollars) $5,000 $5,000 $5,000 $5,000 Monthly Deposit (dollars) $100 $200 $300 $400 Account Value in Five Years (dollars) $11,000 $17,000 $23,000 $29,000 Problem The student wants to have enough money saved in four years to pay the tuition and fees for her first two years of college. Based on the table, what is the minimum amount she should deposit in the savings account every month? A $200 B $100 C $300 D $400