Question

Mr. Smith has an annual car insurance bill of $839 and an annual property tax bill of $1945. How much should he budget monthly for his annual expenses?

Answer 1

Mr Smith has to budget `$239.50` per month to meet his annual expenses.

Explanation:

Mr Smith’s car insurance bill per annum `= $ 839`

Mr Smith’s annual property tax `= $1,945`

Mr Smith’s annual expenses `= $ 839 + $1,945 = $2,784`

There are 12 months in a year.

Therefore, budget per month `= ($2874) / 12 = $239.50`