Question

joes annual insurance is $2440, but if he pays monthly, there is a $5 fee. what would joes monthly payment be?

Explanation:

Step1: Find monthly base payment

Annual insurance is $2440, so monthly base is $\frac{2440}{12}$.
$\frac{2440}{12} \approx 203.33$

Step2: Add the monthly fee

Monthly fee is $5, so total monthly payment is $203.33 + 5$.
$203.33 + 5 = 208.33$

Answer:

$208.33$