To determine the monthly budget needed to cover all the annual expenses, follow these steps:
1. Identify the Annual Expenses:
- Car Registration: \$90.00
- Car Insurance: \$520.00
- Home Insurance: \$1020.00
2. Calculate the Total Annual Expenses:
Add up all the individual annual expenses:
[tex]\[
\text{Total Annual Expenses} = \[tex]$90.00 + \$[/tex]520.00 + \[tex]$1020.00 = \$[/tex]1630.00
\][/tex]
3. Calculate the Monthly Budget:
Divide the total annual expenses by 12 to distribute these costs evenly across each month:
[tex]\[
\text{Monthly Budget} = \frac{\[tex]$1630.00}{12} = \$[/tex]135.83\overline{3}
\][/tex]
Hence, to account for all annual expenses, a budget of approximately \$135.83 per month should be allocated.
