what is the average monthly car loan payment?\nmonthly expenditures\n| |march|april|may|\n|--|--|--|--|\n|wat…

what is the average monthly car loan payment?\nmonthly expenditures\n| |march|april|may|\n|--|--|--|--|\n|water|$22.00|$23.00|$17.00|\n|car loan|$140.00|$140.00|$140.00|\n|electricity|$32.00|$44.00|$39.00|\n|mortgage|$1100.00|$1100.00|$1100.00|\nround to the nearest cent.

what is the average monthly car loan payment?\nmonthly expenditures\n| |march|april|may|\n|--|--|--|--|\n|water|$22.00|$23.00|$17.00|\n|car loan|$140.00|$140.00|$140.00|\n|electricity|$32.00|$44.00|$39.00|\n|mortgage|$1100.00|$1100.00|$1100.00|\nround to the nearest cent.

Answer

Explanation:

Step1: Identify car - loan amounts

The car - loan amounts for March, April, and May are all $140.00.

Step2: Calculate the average

Since the values are the same for the three - month period, the average is the same as the individual value. The formula for the average (arithmetic mean) of a set of numbers $x_1,x_2,\cdots,x_n$ is $\bar{x}=\frac{x_1 + x_2+\cdots+x_n}{n}$. Here, $x_1 = 140$, $x_2 = 140$, $x_3 = 140$, and $n = 3$. So, $\bar{x}=\frac{140 + 140+140}{3}=\frac{420}{3}=140$.

Answer:

$140.00$