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Answer: The correct answer is $13,035.
Explanation: In order to determine the minimum amount that Joaquin will need to contribute to his education annually if he lives at home you need to total his itemized costs. The total costs for living at home include tuition, transportation, books and fees and other expenses, which is $14,935. He received a grant of $1,900, which is subtracted from the total costs to reach $13,035. This amount of $13,035 is how much he will need to contribute annually to his education.
The minimum amount being contributed by Joaquin for his annual education if he lives at home comes out to be $13,035.
Option A is correct.
The expenses which are incurred by an individual in respect of his/her studies, courses, schooling or degree are considered to be the education charges.
According to the provided case, Joaquin wanted to live in his own house that means the amount of paying the room rent of $7,920 can be saved by him and that's why it is not included in the minimum amount to be paid.
The expenses relating to education comes out to be $14,935 by adding the cost of transportation, cost of books and fees and the other related charges. There is a grant received to him of $1,900 which gets reduced from the total expenses of $14,935.
Therefore, the amount of $13,035 comes out to be the minimum amount to be contributed by Joaquin in the education.
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