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
To find out how much Rod must budget weekly, we need to divide the total yearly cost ($150 x 6 = $900) by the number of weeks in a year. There are 52 weeks in a year, so:
$900 รท 52 = $17.31 (rounded to the nearest cent)
Therefore, the answer is d. $17.31.