Question

Janice has car insurance that she must pay four times a year. If each payment is $156, how much money should she set aside each month to cover her car insurance?

Answer 1

Janice should set aside $52 each month to meet her quarterly car insurance payments of $156. This is calculated by multiplying the quarterly payment by four to get the total yearly amount and then dividing that by 12 to determine the monthly savings required.

Step-by-step explanation:

To calculate how much Janice should set aside each month to cover her car insurance, we first determine her total yearly payment by multiplying the quarterly payment amount by four. Since each payment is $156 and she makes four payments a year, the total yearly payment is:

Yearly Payment = $156 per quarter × 4 quarters = $624 per year.

Now, to find out how much she should save each month, we divide the total yearly payment by 12 (the number of months in a year):

Monthly Savings = $624 per year ÷ 12 months = $52 per month.

Therefore, Janice should set aside $52 each month to cover her car insurance payments. This approach ensures she will have the full amount ready for each quarterly payment.