Question

Jeff has to pay his car insurance annually. If his total bill is $744, how much money should he set aside each month for car insurance? Round to the nearest dollar.

Answer 1

Since Jeff is paying an annual amount of $744 he needs to set aside 12 monthly payments for the year. To figure out how much each payment would be you divide the total for the year 744 by the number of months 12. $744/12=$62 Each monthly payment would be $62