If you stay in your home town, you can go to Concord College at a reduced tuition of $3000 per year and pay $800 per
month in rent. Or you can leave home, go to Versalia College
with a $10,000 scholarship (per year), pay $16,000 per year
in tuition, and pay $350 per month to live in a dormitory. You
will pay $2000 per year to travel back and forth from Versalia
College. Assuming all other factors are equal, which is the less
expensive choice on an annual (12-month) basis?