Question

① you got three quotes for insurance: $1600 annually, $402 quarterly, and $135 monthly. what is the best price for monthly insurance? by how much?

Explanation:

Step1: Convert annual to monthly

Annual cost is $1600, so monthly cost is $1600 / 12 ≈ $133.33.

Step2: Convert quarterly to monthly

Quarterly cost is $402, so monthly cost is $402 / 3 = $134.

Step3: Compare monthly costs

Given monthly cost is $135. The three monthly costs are ~$133.33, $134, and $135.

Step4: Find the best (lowest) and differences

Best monthly price is ~$133.33 (from annual). Difference from $134: $134 - $133.33 = $0.67. Difference from $135: $135 - $133.33 = $1.67.

Answer:

The best monthly price (converted from annual) is approximately $133.33. It is $0.67 less than the quarterly - converted monthly price and $1.67 less than the given monthly price.