Question
Rod makes six payments a year of $150 for his auto insurance. How much
must he budget weekly to cover this fixed expense?
must he budget weekly to cover this fixed expense?
Answers
GPT 3.5
To find out how much Rod needs to budget weekly for his auto insurance, we need to calculate the total amount he pays in a year first.
Rod pays $150 per payment, and makes 6 payments per year.
Total annual amount = $150/payment * 6 payments = $900
Next, we divide the total annual amount by 52 weeks in a year to find out the weekly budget amount.
Weekly budget amount = $900 / 52 weeks ≈ $17.31
Therefore, Rod must budget approximately $17.31 per week to cover his auto insurance expense.
Rod pays $150 per payment, and makes 6 payments per year.
Total annual amount = $150/payment * 6 payments = $900
Next, we divide the total annual amount by 52 weeks in a year to find out the weekly budget amount.
Weekly budget amount = $900 / 52 weeks ≈ $17.31
Therefore, Rod must budget approximately $17.31 per week to cover his auto insurance expense.