Carl pays $45 per month for car insurance. How much does he spend on car insurance in 1 year?

Carl spends $540 per year on car insurance

Step-by-step explanation:

Carl pays $45 per month. There are 12 months in 1 year.

All we need to do is multiply the rate per month by the number of months to get our answer.

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

yes

step-by-step explanation: