what is the average monthly mortgage payment?\nmonthly expenditures\n| | may | june | july |\n|--|--|--|--|…

what is the average monthly mortgage payment?\nmonthly expenditures\n| | may | june | july |\n|--|--|--|--| \n| water | $20.00 | $38.00 | $27.00 |\n| mortgage | $900.00 | $900.00 | $900.00 |\n| electricity | $60.00 | $220.00 | $120.00 |\n| car loan | $250.00 | $250.00 | $250.00 |\nround to the nearest cent.

what is the average monthly mortgage payment?\nmonthly expenditures\n| | may | june | july |\n|--|--|--|--| \n| water | $20.00 | $38.00 | $27.00 |\n| mortgage | $900.00 | $900.00 | $900.00 |\n| electricity | $60.00 | $220.00 | $120.00 |\n| car loan | $250.00 | $250.00 | $250.00 |\nround to the nearest cent.

Answer

Explanation:

Step1: Identify mortgage payments

We have mortgage payments of $900 for May, June and July.

Step2: Calculate the average

The formula for the average of a set of numbers $x_1,x_2,\cdots,x_n$ is $\bar{x}=\frac{\sum_{i = 1}^{n}x_i}{n}$. Here, $n = 3$, $x_1=900$, $x_2 = 900$, $x_3=900$. So $\bar{x}=\frac{900 + 900+900}{3}=\frac{2700}{3}=900$.

Answer:

$900.00$