Answer:
$238.33
Step-by-step explanation:
We have been given that Lan pays a semiannual premium of $450 for automobile insurance, a monthly premium of $130 for health insurance, and an annual premium of $400 for life insurance.
First of all, we will find annual costs of each insurance.
[tex]\text{Yearly automobile insurance}=2\times \$450[/tex]
[tex]\text{Yearly automobile insurance}=\$900[/tex]
[tex]\text{Yearly health insurance}=12\times \$130[/tex]
[tex]\text{Yearly health insurance}=\$1560[/tex]
[tex]\text{Yearly life insurance}=1\times \$400[/tex]
[tex]\text{Yearly life insurance}=\$400[/tex]
[tex]\text{Total yearly expenses}=\$900+\$1560+\$400[/tex]
[tex]\text{Total yearly expenses}=\$2860[/tex]
Now, we will divide total yearly cost by 12 to find monthly expenses.
[tex]\text{Monthly expenses}=\frac{\$2860}{12}[/tex]
[tex]\text{Monthly expenses}=\$238.33333[/tex]
[tex]\text{Monthly expenses}\approx \$238.33[/tex]
Therefore, the monthly expenses would be $238.33.
