Answer:
$1,149.75
Step-by-step explanation:
We can start this problem off by organizing the monthly and the annual expenses.
Monthly:
$725 - Condominium
$125 - Maintenance Work
Annual:
$468 - Insurance
$129 - Lost Interest
$3,000 - Utility Bills
Since we are solving for the average monthly expense, we should deal with the annual expenses first by dividing them all by 12 since there are 12 months.
[tex]x=\frac{(468+129+3000)}{12}[/tex]
[tex]x=\frac{3,597}{12}[/tex]
[tex]x=299.75[/tex]
Now, we simply add 299.75 to the monthly expenses to get our answer.
[tex]x=299.75+725+125[/tex]
[tex]x=1,149.75[/tex]
The average monthly expense is $1,149.75.
