Craig makes four payments a year of $185.50 for car insurance.
How much must he budget weekly for this fixed expense?
a. $28.54
b. $14.27
c. $.89
d. $30.92
To find out how much Craig must budget weekly for car insurance, we can divide the annual payment ($185.50 x 4 = $742) by the number of weeks in a year (52):
$742 รท 52 = $14.27
Therefore, the answer is b. $14.27.