Question

Last quarter, Rick Hudson had the following monthly expenditures: January: $2,195; February: $2,657; March: $2,358. His...

Last quarter, Rick Hudson had the following monthly expenditures: January: $2,195; February: $2,657; March: $2,358. His expenses for April were 1.7 times his expenses for February. His expenses for May equal his average monthly expenditures for January through March. What is Williams’ average monthly expenditure for January through May?

a

$,2884

b

$14,130.23

c

$2,826.05

d

$2,403.33
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Homework Answers

Answer #1

Option c $2,826.05 is the correct answer.

Explanation:

Average Medical Expense of April = 1.7 * Medical Expense of February

= 1.7 * $2,657 = $4,516.90

Average Medical Expense of May = ( Medical Expense of January + Medical Expense of Feb + Medical Expense of March) / 3 Years

= ($2,195 + $2,657 + $2,358) / 3 = $2403.33

Hence, Williams’ average monthly expenditure for January through May = ( Medical Expense of January + Medical Expense of Feb + Medical Expense of March + Medical Expense of April + Medical Expense of May) / 5 Years

= ($2,195 + $2,657 + $2,358 + $2,403.33 + $4,516.90) / 5 = $2,826.05

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