Question

Mr. Robledo has 10 credit cards. He pays an annual fee of $50 each for use on three of the cards and four of the cards have a $45 annual fee. The remainingthree cards have no annual fee. How much should he budget each month to pay the annual fees on his ten credit cards?$25.70 per month$28.30 per month$26.90 per month$27.50 per monthNone of these choices are correct.

Answer 1

$27.50 per month

Step-by-step explanation:

The annual fees paid by Mr. Robledo are listed below:

• $50 on 3 of the cards

,

• $45 on 4 of the cards

First, determine the total annual fee:

`\begin{gathered} \text{Total}=(50*3)+(45*4) \\ =150+180 \\ =\$330 \end{gathered}`

Next, divide by 12 to calculate the monthly budget.

`\begin{gathered} \text{Monthly Fee}=(330)/(12) \\ =\$27.50 \end{gathered}`

Mr. Robledo should budget $27.50 per month.