Rad makes six payments a year of $175.50 for his auto insurance. How much must he budget weekly to cover this fixed expense?
a. $20.25
b. $43.88
c. $1,053
d. $87.75
Rod makes six payments a year of $150 for his auto insurance. How much must he budget weekly to cover this fixed expense?
a. $37.50
b. $75
c. $900
d. $17.31
175.5 * 6 = 1,053
1053 / 52 = _________ weekly
I'll be glad to check your answer for the second problem.
$175.50*6=$1053
52/1053=$20.25
Answer: $20.25 (A)
$150*6=$900
52/$900=$17.31
Answer:$17.31 (D)
Yes - but it's 900/52.
Your answer is correct.
To find out how much Rad must budget weekly to cover his auto insurance expense, we need to divide the total amount by the number of weeks in a year.
Rad makes six payments a year of $175.50. So, the total amount he pays in a year is 6 * $175.50 = $1,053.
Now, to find out the weekly budget, we divide the total amount by the number of weeks in a year. Since there are 52 weeks in a year, we have $1,053 / 52 = $20.25.
So, the answer for Rad's case is (a) $20.25.
Similarly, for Rod's case:
Rod makes six payments a year of $150. So, the total amount he pays in a year is 6 * $150 = $900.
To find out the weekly budget, we divide the total amount by the number of weeks in a year, which is $900 / 52 = $17.31.
So, the answer for Rod's case is (d) $17.31.