If Ryan pays his car insurance for the year in full he will get a credit of 28. If he chooses to pay a monthly premium he will pay a 10 late fee for any month that the payment is late. Which of these?

If Ryan pays his car insurance annually, he saves $28 compared to paying monthly. If he pays monthly but misses a payment, the $10 late fee could quickly negate any savings, especially if he is late more than two months. Therefore, paying in full is more cost-effective unless he anticipates consistently missing payments. Overall, paying in full is the better financial option.