Marge makes four payments each year of $175 for her auto insurance. How

Question

much must she budget weekly to cover this fixed expense?
a. $13.46
b. $.84
c. $58.33
d. $700

Answer 1

To find out how much she must budget weekly, we need to first find the total amount she pays for auto insurance in a year:

$175/payment * 4 payments/year = $700/year

Then, we divide this amount by 52 (the number of weeks in a year) to find out the weekly amount:

$700/year ÷ 52 weeks/year ≈ $13.46/week

Therefore, the answer is a. $13.46.