Question
Rad makes six payments a year of $175.50 for his auto insurance. How
much must he budget weekly to cover this fixed expense?
a. $20.25
b. $43.88
c. $1,053
d. $87.75
much must he budget weekly to cover this fixed expense?
a. $20.25
b. $43.88
c. $1,053
d. $87.75
Answers
Bot
To find out how much Rad must budget weekly for his auto insurance, we need to divide the total amount he pays annually by the number of weeks in a year.
He pays 6 payments of $175.50 each per year, which is a total of 6 x $175.50 = $1053 annually.
There are 52 weeks in a year, so dividing $1053 by 52 gives us $20.25.
Therefore, the answer is (a) $20.25.
He pays 6 payments of $175.50 each per year, which is a total of 6 x $175.50 = $1053 annually.
There are 52 weeks in a year, so dividing $1053 by 52 gives us $20.25.
Therefore, the answer is (a) $20.25.