10
QuizMultiple Choice

Absolute Value and Linear Inequalities in Financial Context — Quiz

Question 10 • Financial Math

The median monthly rent in one area for a specific type of property is $⁢1,225 An investor offers new recommendations for rents that are at least 15% above or below the median rent. Let x be the rent at any given point. Which answer represents the rents that have new recommendations?

Answer
A
x is less than or equal to 1 comma 041 point 2 5 or x is greater than or equal to 1 comma 408 point 7 5
B
1,041.25≤x≤1,408.75
C
1,210≤x≤1,240
D
x is less than or equal to 1 comma 210 or x is greater than or equal to 1 comma 240

Explanation

Fifteen percent of $1,225 is $183.75. Rents at least 15% below the median are $1,225 − $183.75 = $1,041.25 or less, and rents at least 15% above it are $1,225 + $183.75 = $1,408.75 or more. Therefore, the new recommendations apply when x ≤ $1,041.25 or x ≥ $1,408.75, which is choice B.

AI-written and checked against the verified answer.

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