Bill makes four payments a year of $128.25 for life insurance;
four payments of $161.82 for real estate taxes; twenty-four
payments of $37.46 for health insurance; and six payments of
$221.65 for auto insurance. What is the total of his annual fixed
expenses for these items?
To find the total annual fixed expenses for these items, we need to add up the payments and then multiply by the number of times they are made in a year.
For life insurance:
- Payment = $128.25
- Number of payments per year = 4
- Total annual cost = $128.25 x 4 = $513
For real estate taxes:
- Payment = $161.82
- Number of payments per year = 4
- Total annual cost = $161.82 x 4 = $647.28
For health insurance:
- Payment = $37.46
- Number of payments per year = 24
- Total annual cost = $37.46 x 24 = $899.04
For auto insurance:
- Payment = $221.65
- Number of payments per year = 6
- Total annual cost = $221.65 x 6 = $1329.9
Now we add up the annual costs for each item:
$513 + $647.28 + $899.04 + $1329.9 = $3389.22
Therefore, the total annual fixed expenses for these items is $3389.22.