Step 1 :Given the annual cost of homeowner's insurance is \$1106 and the semi-annual property tax is \$3043.38.
Step 2 :First, we need to calculate the annual property tax. Since the given property tax is semi-annual, we multiply it by 2: \(3043.38 \times 2 = 6086.76\). So, the annual property tax is \$6086.76.
Step 3 :Next, we add the annual cost of the homeowner's insurance and the annual property tax to get the total annual cost: \(1106 + 6086.76 = 7192.76\). So, the total annual cost is \$7192.76.
Step 4 :Finally, we divide the total annual cost by 12 to get the monthly cost: \(\frac{7192.76}{12} = 599.4\).
Step 5 :Final Answer: The amount that would need to be saved monthly to prorate the given long-term expenses is \(\boxed{599.40}\) dollars.