Question

When renting an apartment, in addition to the first month's rent, the amount to move-in often requires the last month's rent as well as a security deposit. The rent is $725 per month and the security deposit is $900. How much money must be paid to the apartment management to be able to live in the apartment the first year? Assume that the renters moved out at the end of the first year.

a.
$9,425
b.
$9,600
c.
$10,325
d.
$11,050

Answer 1

You pay 12 months of rent (725 × 12 = 8,700) plus the $900 security deposit, so total = 8,700 + 900 = $9,600. Answer: b.