Lan pays a semiannual premium of $650 for automobile insurance, a monthly premium of $125 for health insurance, and an annual premium of $450 for life insurance.

the monthly expense is $? with explanation

Monthly Expense = $270.83

Step-by-step explanation:

The semi-annual premium is paid twice a year so,

Automobile insurance premium for whole year = 650*2

= $1300

Monthly premium will be paid 12 times a year so,

Health insurance premium for whole year = 125*12 = $1500

Annual premium is only paid once a year.

So adding all the premiums will give us the total premiums for whole year.

Total amount of premium for a year = $1300+$1500+$450

= $3250

The premium amount for whole year is $3250. To find the monthly expense, we will divide it by 12.

So monthly expense is:

= 3250/12

= $270.83 ..

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step-by-step explanation:

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step-by-step explanation:

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