Roberto Anaya and his wife plan to rent a condominium for $725 per month. They pay a $125 monthly fee for all of the maintenance work. Their annual expenses are insurance $468, lost interest, $129; and utility bills, $3,000. What is his average monthly expense

$1,149.75

Step-by-step explanation:

We can start this problem off by organizing the monthly and the annual expenses.

Monthly:

$725 - Condominium

$125 - Maintenance Work

Annual:

$468 - Insurance

$129 - Lost Interest

$3,000 - Utility Bills

Since we are solving for the average monthly expense, we should deal with the annual expenses first by dividing them all by 12 since there are 12 months.

Now, we simply add 299.75 to the monthly expenses to get our answer.

The average monthly expense is $1,149.75.

$9.89

step-by-step explanation:

9.90 = p x .06 x .25 (3/12 changed to a decimal)

9.90 = p x 0.015

9.90 - 0.015 = p

9.89 = p