Question

Joey pays $672 per year in insurance, how mush should he budget monthly for it?

Answer 1

For the first part, in the question, it is given that , Joey pays $672 per year in insurance .

And 1 year = 12 months.

It means, Joey pays $672 for 12 months in insurance .

So his monthly budget should be

$\frac{672}{12} = 56$

Correct option is C .

In the second part, it is given that, The equation y = 1.55x + 110,419 approximates the total cost, in dollars, of raising a child in the united states from birth to 17 years, given the household's annual income, x .

So when annual income ,x, is 54000, we will get

$y=1.55(54000)+110419 = 194119$