Question

Annual expenses for an individual are shown in the table. To prorate the annual costs into a monthly budget, how much money per month should be budgeted for car insurance?$[?] Round to the nearest cent. \table[[Annual Expenses,],[Car Registration,$90.00],[Car Insurance,$520.00],[Home Insurance,$1020.00]]

Answer 1

Step-by-step explanation:

To prorate the annual cost of car insurance into a monthly budget, you can divide the annual cost by 12 (the number of months in a year).

For car insurance:

$

520.00

12

≈

$

43.33

12

$520.00

​

≈$43.33

Therefore, you should budget approximately $43.33 per month for car insurance. Rounding to the nearest cent, this would be $43.33.

Answer 2

To prorate an annual car insurance cost into a monthly budget, divide the total annual expense by the number of months in a year. The annual expense of $520.00 becomes approximately $43.33 per month.

Step-by-step explanation:

To prorate the annual cost of the car insurance into a monthly budget, one needs to divide the total annual expense by the number of months in a year. The annual cost of the car insurance is mentioned as $520.00. To find the monthly expense, we would divide $520.00 by 12 (since there are 12 months in a year).

Monthly Car Insurance Cost = $520.00 ÷ 12 = $43.33

Therefore, the amount that should be budgeted per month for car insurance is approximately $43.33, when rounded to the nearest cent.