Craig makes four payments a year of $185.50 for car insurance.

Question

How much must he budget weekly for this fixed expense?

Answer 1

To find out how much Craig must budget weekly for his car insurance expense, we can first calculate the total annual cost of his car insurance:

4 payments/year * $185.50/payment = $742/year

Then, to find out the weekly cost, we can divide the total annual cost by the number of weeks in a year (52 weeks):

$742/year / 52 weeks/year = $14.27/week

Therefore, Craig must budget $14.27 weekly for his car insurance fixed expense.