Marge makes four payments each year of $175 for her auto insurance. How
much must she budget weekly to cover this fixed expense?
a. $13.46
b. $.84
c. $58.33
d. $700
To find out how much she must budget weekly, we need to first find the total amount she pays for auto insurance in a year:
$175/payment * 4 payments/year = $700/year
Then, we divide this amount by 52 (the number of weeks in a year) to find out the weekly amount:
$700/year ÷ 52 weeks/year ≈ $13.46/week
Therefore, the answer is a. $13.46.