To find out how much Slade must budget weekly for this fixed expense, we first need to calculate the total amount he pays annually for life insurance.
Six payments per year of $125.50 each gives us a total annual payment of:
6 payments/year * $125.50/payment = $753
Now, to find out how much Slade must budget weekly, we divide the annual amount by the number of weeks in a year (52 weeks):
$753 / 52 weeks = $14.48 weekly
Therefore, Slade must budget $14.48 weekly for his life insurance payments.
Slade makes six payments a year of $125.50 for life insurance.
How much must he budget weekly for this fixed expense?
1 answer