Question

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 are their average monthly expenses to the nearest cent?

Answer 1

the answer is $1,149.75

Answer 2

The average monthly expenses is $ 1,149.75

Explanation:

Given,

The monthly rent of the condominium = $ 725,

Also, monthly fee for maintenance work = $ 125,

And, Their annual expenses are insurance $468, lost interest, $129; and utility bills, $3,000,

⇒ The total annual expenses in insurance, lost interest and utility bill = $ 468 + $ 129 + $ 3,000

= $ 3597,

⇒ The monthly expenses in insurance, lost interest and utility bills =
`(3597)/(12)`

= $ 299.75,

Hence, the average monthly expenses = monthly rent of the condominium + monthly fee for maintenance work + monthly expenses in insurance, lost interest and utility bills

= $ 725 + $ 125 + $ 299.75

= $ 1,149.75