Question

Joey pays $672 per year in insurance, how mush should he budget monthly for it?

A. $112,

B. $84

C. $56,

D. $28

The equation y = 1.55x + 110,419 approximates the total cost, in dollars, of raising a child in the united states from birth to 17 years, given the household's annual income, x, Approximately how much would it cost to raise a child from birth to 17 years in a household with an annual income of $54,000?

A. $83,700

B. $191,419

C. $194,119

D. $196,316

Answer 1

For the first part, in the question, it is given that , Joey pays $672 per year in insurance .

And 1 year = 12 months.

It means, Joey pays $672 for 12 months in insurance .

So his monthly budget should be

`(672)/(12) = $ 56`

Correct option is C .

In the second part, it is given that, The equation y = 1.55x + 110,419 approximates the total cost, in dollars, of raising a child in the united states from birth to 17 years, given the household's annual income, x .

So when annual income ,x, is 54000, we will get

`y=1.55(54000)+110419 = 194119`