1 answer
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$96.50
To calculate this, first find the amount Chris needs to save for the first year's tuition that is not covered by his parents' savings.
$9,264 * 0.25 = $2,316
Then, spread that amount over 24 months (2 years) to find the monthly savings amount.
$2,316 / 24 = $96.50
Therefore, Chris should save $96.50 each month to meet his goal.