Math  /  Numbers & Operations

QuestionAnnual expenses for an individual are shown in the table. To prorate the annual costs into a monthly budget, how much money per month should be budgeted for home insurance? \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Annual Expenses } \\ \hline Car Registration & $72.00\$ 72.00 \\ \hline Car Insurance & $660.00\$ 660.00 \\ \hline Home Insurance & $1152.00\$ 1152.00 \\ \hline \end{tabular} $[?]\$[?]
Round to the nearest cent.

Studdy Solution

STEP 1

1. The annual expense for home insurance is $1152.00\$1152.00.
2. There are 12 months in a year.
3. To find the monthly budget for home insurance, we need to divide the annual cost by 12.
4. The final answer should be rounded to the nearest cent.

STEP 2

1. Identify the annual cost for home insurance.
2. Divide the annual cost by the number of months in a year.
3. Round the result to the nearest cent.

STEP 3

Identify the annual cost for home insurance.
Annual cost for home insurance=$1152.00 \text{Annual cost for home insurance} = \$1152.00

STEP 4

Divide the annual cost by the number of months in a year.
Monthly budget for home insurance=1152.0012 \text{Monthly budget for home insurance} = \frac{1152.00}{12}

STEP 5

Perform the division to find the monthly cost.
Monthly budget for home insurance=96.00 \text{Monthly budget for home insurance} = 96.00

STEP 6

Round the result to the nearest cent (if necessary). In this case, the result is already to the nearest cent.
Monthly budget for home insurance=$96.00 \text{Monthly budget for home insurance} = \$96.00
The monthly budget for home insurance should be $96.00\$96.00.

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