The information below represents the cost of Michelle's car ownership for last year. What is her average monthly expenditure related to her car?
● Auto loan of $498.89 per month
● Auto insurance of $68.12 per month
● Gasoline expenditure of $1,740.00 for year
● New tires $490.90
● Repairs $671.00
A) $289.08
B) $746.39
C) $498.89
D) $808.84
What is your answer?
jh
To find Michelle's average monthly expenditure related to her car, we need to add up all the costs and divide it by the number of months in a year.
First, let's calculate the total annual expenditure:
Auto loan: $498.89 per month * 12 months = $5,986.68
Auto insurance: $68.12 per month * 12 months = $817.44
Gasoline expenditure: $1,740.00 for the year
New tires: $490.90
Repairs: $671.00
Total annual expenditure = $5,986.68 + $817.44 + $1,740.00 + $490.90 + $671.00 = $9,706.02
Now, let's divide this total annual expenditure by the number of months in a year (12) to find the average monthly expenditure:
Average monthly expenditure = $9,706.02 / 12 months = $808.84
So, the answer is D) $808.84.