You have a choice between going to an in$-$state college where you would pay $4000$ per year for tuition and an out$-$of$-$state college with tuition is $5500$per year the cost of living is much higher at the in$-$state college where you can expect to pay $$700$ per month in rent compared to $350$ per month at the other college. Assuming all the other factors are equal which is the less expensive choice on an annual basis?