The table below shows your expenses. Use the information in the table to answer questions 1-3.

Expense Type Cost
mortgage (monthly) $1,850.00
groceries (bi-weekly) $113.50
telephone (monthly) $96.80
credit card (monthly) $100.00
car payment (monthly) $389.45
car insurance (every 6 months) $499.98
health insurance (bi-weekly) $80.16

What is a good estimate for your monthly expenses on groceries?
(1 point)
Responses

$56.75
$56.75

$227.00
$227.00

$113.50
$113.50

$193.60

1 answer

To find a good estimate for your monthly expenses on groceries, we need to convert the bi-weekly grocery expense into a monthly amount. Since there are 52 weeks in a year, that means there are 26 bi-weekly periods in a year.

The bi-weekly grocery cost is $113.50. To find the monthly cost, we can multiply this amount by 2 (for two bi-weekly periods in a month):

\[ \text{Monthly Groceries Expense} = 113.50 \times 2 = 227.00 \]

So, a good estimate for your monthly expenses on groceries is $227.00.