Question

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
How much should you budget for your total monthly expenses?
(1 point)
Responses

$2,906.90
$2,906.90

$2,826.74
$2,826.74

$3,129.89
$3,129.89

$3,073.56
$3,073.56

Answer 1

Compute each item on a monthly basis:

- Mortgage: $1,850.00
- Groceries (bi‑weekly → twice a month): 113.50 × 2 = $227.00
- Telephone: $96.80
- Credit card: $100.00
- Car payment: $389.45
- Car insurance (every 6 months → per month): 499.98 ÷ 6 = $83.33
- Health insurance (bi‑weekly → twice a month): 80.16 × 2 = $160.32

Sum: 1850.00 + 227.00 + 96.80 + 100.00 + 389.45 + 83.33 + 160.32 = $2,906.90

Answer: $2,906.90.