The information below represents the cost of Cody's home ownership. What is his average monthly expenditure related to his home?

2 answers:

7 0

Cody's typical monthly spending associated with his home is $2,152.75. To explain step-by-step, since the question queries monthly expenses, we need to first convert all listed expenses to a monthly basis. Mortgage is $1,255, taxes total $240.08, insurance costs $156, HOA fees are $26.67, and utilities amount to $475. Therefore, Cody's monthly housing expense totals: 1,255 + 240.08 + 156 + 26.67 + 475 = $2,152.75.

tester [12.3K]2 months ago

4 0

Let's compute all monthly expenditures

a) Mortgage $1,255 →→→→→→→→→ = $1,255 monthly
b) Taxes $2,881 annually →→ $2,881/12 = $240.083 monthly
c) Insurance $156 →→→→→→→→→→ = $156 monthly
d) HOA fees $320 annually→→→=$320/12 = $26.66 monthly
e) Utilities $475→→→→→→→→→→→→→=$475

Average monthly spending: a) + b) + c) + d) equals $2,152.75

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