Question

Our car insurance is paid quarterly (every 3 months). If your payment is $218.56, how much should your estimated monthly expense be?

$220.00


$110.00


$75.00


$55.00

Answer 1

$220.00. $218.56 rounds to $220.

Answer 2

Estimated monthly expense is $75.00

Explanation:

We paid our insurance quarterly. Our payment is $218.56

If we need to know the amount of our monthly expense, we must divide our payment between the 3 months of the quarter.

So,

Monthly expense=$218.56/3

Monthly expense= 72,85

Approx Monthly expense= $75.00