Question

Amy pays $2250 annually in homeowner's insurance.

She pays $2375 semiannually in property tax.
She pays $1260 monthly in mortgage payments.
She also pays $1725 per year for repairs and maintenance.
Find the average monthly expense for Amy.
Section 4A
$2.199.99 per month
$1.987.08 per month
$2.031.00 per month
$1.925.25 per month
$1.873.66 per month

Answer 1

The average monthly expense for Amy is $1,987.08 per month. Therefore correct option is B

Step-by-step explanation:

To find the average monthly expense for Amy, we need to add up all her annual expenses and divide by 12 (since there are 12 months in a year).

Her annual homeowner's insurance expense is $2250. Her semiannual property tax expense is $2375, which means she pays it twice a year. Her monthly mortgage payments are $1260. And her annual repairs and maintenance expense is $1725.

Adding these expenses together, we get $2250 + (2 x $2375) + ($1260 x 12) + $1725 = $2250 + $4750 + $15120 + $1725 = $23845.

Dividing this sum by 12, we get $23845/12 = $1987.08.

Therefore, the average monthly expense for Amy is $1,987.08 per month.