Allan makes two payments a year of $337 each for real estate taxes.
He makes six payments a year of $216 for auto insurance. How much
must he budget monthly to cover these fixed expenses?
a. $164.17
b. $1,296
c. $1,970
d. $674
To find the total annual cost of real estate taxes:
$337 x 2 = $674
To find the total annual cost of auto insurance:
$216 x 6 = $1,296
To find the grand total of fixed expenses:
$674 + $1,296 = $1,970
To find the monthly budget needed:
$1,970 รท 12 = $164.17
Therefore, the answer is (a) $164.17.