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Prorate the following expenses and find the corresponding monthly expense.Lan pays a semiannual premium of $650 for automobile insurance, a monthly premium of $150 for health insurance, and an annual premium of $350 for life insurance.Question content area bottomThe monthly expense is $ (Round to the nearest cent as needed.)

User Copperfield
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1 Answer

21 votes
21 votes

Given:

Lan pays,

A semiannual premium of ​$650 for automobile​ insurance.

A monthly premium of ​$150 for health​ insurance.

An annual premium of ​$350 for life insurance.

To find:

The monthly expense.

Step-by-step explanation:

According to the problem,

The amount paid for automobile​ insurance per year will be,


650*2=1300

The amount paid for health​ insurance per year will be,


150*12=1800

The amount paid for life insurance per year will be,


350*1=350

The total expenses in a year are,


1300+1800+350=3450

So, the monthly expense is,


(3450)/(12)=\text{ \$}287.50

Therefore, the monthly expense is $287.50.

Final answer:

The monthly expense is $287.50.

User CGTheLegend
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