To calculate the estimated monthly expenses, we need to account for all the expenses listed and convert any bi-weekly expenses into a monthly amount.
- Mortgage (monthly): $1,045.87
- Groceries (bi-weekly): $165.00
- Since there are typically 2 bi-weekly pay periods in a month, we multiply by 2: \[ \text{Groceries (monthly)} = 165.00 \times 2 = 330.00 \]
- Telephone (monthly): $62.48
- Car Payment (monthly): $328.79
Now, we will sum all these expenses to find the total monthly expenses: \[ \text{Total Monthly Expenses} = \text{Mortgage} + \text{Groceries} + \text{Telephone} + \text{Car Payment} \] \[ \text{Total Monthly Expenses} = 1,045.87 + 330.00 + 62.48 + 328.79 \] \[ \text{Total Monthly Expenses} = 1,045.87 + 330.00 + 62.48 + 328.79 = 1,767.14 \]
Since we're looking for the estimated monthly expenses based on the options provided, we can round $1,767.14 to the nearest dollar which is $1,768.00.
Thus, the estimated monthly expenses should be $1,768.00.
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