Math Problem Statement

A university student is trying to estimate the amount of study funds he needs to fund by loan. From his friend's experience, the amount he needs to fund by other means than part-time work is about 5/9 of the amount of the part time work. If the student estimates that he will need about 16 400 euros for a year for his living expenses and tuition, what is the amount he could make monthly by working based on this estimation?

Solution

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Math Problem Analysis

Mathematical Concepts

Ratio and Proportion
Basic Arithmetic
Percentage Calculation

Formulas

Portion covered by part-time work = (4/9) * Total amount
Monthly earnings from part-time work = Annual amount from part-time work / 12

Theorems

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Suitable Grade Level

Grades 10-12