Find the amount that would need to be saved monthly to prorate the given long-term expenses. Round the final answer to the nearest cent.
Car insurance: $\$ 297.70$ every 6 months; tuition and fees: $\$ 4983$ annually; books and supplies: $\$ 510$ twice a year
The given long-term expenses would require saving $\$ \square$ per month. Round to the nearest cent.
Answer
Final Answer: The given long-term expenses would require saving \(\boxed{507.37}\) dollars per month.
Step 1 ：Convert all the expenses into a monthly format.
Step 2 ：For the car insurance, which is paid every 6 months, divide the total by 6 to get the monthly cost: \(\frac{297.70}{6} = 49.62\) dollars per month.
Step 3 ：For the tuition and fees, which are paid annually, divide the total by 12 to get the monthly cost: \(\frac{4983}{12} = 415.25\) dollars per month.
Step 4 ：For the books and supplies, which are paid twice a year, divide the total by 2 to get the semi-annual cost, then divide by 6 to get the monthly cost: \(\frac{510}{2} = 255\) dollars semi-annually, and \(\frac{255}{6} = 42.50\) dollars per month.
Step 5 ：Add up all these monthly costs to get the total amount that needs to be saved each month: \(49.62 + 415.25 + 42.50 = 507.37\) dollars per month.
Step 6 ：Final Answer: The given long-term expenses would require saving \(\boxed{507.37}\) dollars per month.
