John pays $337.24 every 6 months for car insurance. He also pays $2,623 for tuition at the beginning of both fall and spring semesters,

John pays $337.24 every 6 months for car insurance. He also pays $2,623 for tuition at the beginning of both fall and spring semesters, and budgets $650 for books and supplies for each semester. If he wants to plan ahead, how much money should he put into savings every month?

ANSWER:

Lets find the yearly cost of all.

  • $337.24  * 2 =  $674.48  car insurance.
  • $2,623  * 2 =  $5246  tuition
  • $650  *  2  = $1300  for books and supplies.
  • Totally =  $7.220,48

Now, we must find savings every month.

== >>   $7.220,48  /  12 =  $601,71  every month.