Will you be able to attend your school if you have to take a loan out for the entire tuition? (You will need to calculate this if your loan amount was not for the entire tuition.) Explain your reasoning.

What amount would you feel comfortable taking a loan on? How much will you owe on that amount?

Does knowing the cost of college change your view on attending or inspire you to work towards scholarships? Explain your reasoning.

SAVINGS ACCOUNT INFORMATION:

You receive a generous graduation gift of $5000 with the stipulation that you invest the money for at least 10 years. You consider two options.

A. You can put your money into a savings account at City Bank which earns a compound interest rate of 4.5% per year, compounded monthly.

B. The second option is to invest your money in an IRA (individual retirement account) where you cannot withdraw your money for 25 years; however, you will earn an average yearly rate of 7.3% (compounded annually).