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. a. $62 b. $124 c. $186 d. $372

Answer 1

The amount of money that Jeff should set aside each month for car insurance is $62.

Option A) is the correct answer.

What is an insurance?

An insurance is simply a contract in which an insurer indemnifies another against losses from specific possible future events.

Jeff's Monthy save will be;

= Total Amount / 12

Given that;

• Total amount = $744

• Duration = Annually = 12

Savings per month = $744 / 12

Savings per month = $62

The amount of money that Jeff should set aside each month for car insurance is $62.

Option A) is the correct answer.

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