our car insurance is paid quarterly (every 3 months). If your payment is $163.92, how much should your estimated monthly expense be?

Question

(1 point)
Responses

$40.00
$40.00

$55.00
$55.00

$110.00
$110.00

$220.00
$220.00

Answer 1

To find the estimated monthly expense, you can divide the quarterly payment by 3 (since there are three months in a quarter).

The quarterly payment is $163.92. So, the monthly expense would be:

\[ \text{Monthly Expense} = \frac{\text{Quarterly Payment}}{3} = \frac{163.92}{3} \approx 54.64 \]

This rounds to approximately $55.00.

Therefore, the correct response is:

$55.00