Sylvia makes two payments a year of $263 each for renter's insurance.

Question

She makes four payments a year of $260 each for auto insurance. How
much must she budget monthly for these two items?

Answer 1

First, we need to determine the total yearly cost for each insurance:

Renter's insurance: $263 x 2 = $526 per year
Auto insurance: $260 x 4 = $1040 per year

Now, we add the total yearly costs for both insurances:
$526 + $1040 = $1566 per year

To determine the monthly budget, we divide the total yearly cost by 12 months:
$1566 / 12 = $130.50

Therefore, Sylvia must budget $130.50 per month for renter's and auto insurance.