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?

1 Answer
Kalyanam S.
Aug 2, 2018

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#

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