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?

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  =   =  $800

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

Thus the health insure for a year  is  = = $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  = = $244.16

step-by-step explanation:

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