Question

Lan pays a semiannual premium of ​$400 for automobile​ insurance, a monthly premium of ​$140 for health​ insurance, and an annual premium of ​$450 for life insurance. What is the monthly expense?

Answer 1

Answer:

The monthly expense is  $244.16

Step-by-step explanation:

Given:

automobile​ insurance= $400

health​ insurance =  ​$140

life insurance = $450

To find:

The monthly expense =?

Solution:

The automobile​ insurance is Semiannual premium . so it is paid twice a year

So for a year the total automobile insurance paid is  =  $400 \times 2$ =  $800

The health ​ insurance is monthly premium. it is paid for all 12 months.

Thus the health insure for a year  is  = $140 \times 12$ = $1680

The life insurance is annual premium. so it is paid once in  a year

So for a year the life insurance paid is  = $450.

The total expense for a year =  800+ 1680 + 450 = 2930

Then for one month the expense will be  =$\frac{2930}{12}$ = $244.16