Math  /  Numbers & Operations

QuestionAnnual expenses for an individual are shown in the table. To prorate the annual costs into a monthly budget, how much money per month should be budgeted for car insurance? \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Annual Expenses } \\ \hline Car Registration & $72.00\$ 72.00 \\ \hline Car Insurance & $660.00\$ 660.00 \\ \hline Home Insurance & $1152.00\$ 1152.00 \\ \hline \end{tabular} $[?]\$[?]

Studdy Solution

STEP 1

1. We are given the annual expense for car insurance.
2. We need to convert this annual expense into a monthly expense.
3. There are 12 months in a year.

STEP 2

1. Identify the annual cost of car insurance.
2. Divide the annual cost by the number of months in a year to determine the monthly expense.

STEP 3

Identify the annual cost of car insurance from the provided data.
The annual cost of car insurance is \$660.00.

STEP 4

To find the monthly budget for car insurance, divide the annual cost by 12.
Monthly Cost=Annual Cost12 \text{Monthly Cost} = \frac{\text{Annual Cost}}{12}

STEP 5

Substitute the given annual cost into the formula.
Monthly Cost=660.0012 \text{Monthly Cost} = \frac{660.00}{12}

STEP 6

Perform the division to find the monthly cost.
Monthly Cost=55.00 \text{Monthly Cost} = 55.00
Solution: The monthly budget for car insurance should be \$55.00.

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