George Green has determined that the amount of money he spends on his mortgage payment, car loan payment, and home insurance payment totals $1,200 every month. What type of expenses has George determined with this calculation?

E. fixed expenses

Explanation:

Based on this information it can be said that in this scenario the type of expense that George determined is called a fixed expense. These are expenses that an individual must pay every month and whose price does not fluctuate from month to month. Therefore it is a fixed amount that must be paid every time. Such fixed expenses include rent, mortgage, insurance, subscriptions, etc.