Cy makes two payments a year of $131 each for life insurance. He makes

Question

12 payments a year of $46 each for health insurance. How much must he
budget monthly for these two items?

Answer 1

First, calculate the total yearly cost for life insurance:

$131 * 2 = $262

Next, calculate the total yearly cost for health insurance:

$46 * 12 = $552

Now, add the total yearly costs for both insurance policies:

$262 + $552 = $814

Finally, divide the total yearly cost by 12 to find the monthly budget amount:

$814 / 12 = $67.83

Therefore, Cy must budget approximately $67.83 per month for both life insurance and health insurance.