11
QuizMultiple Choice

Buying vs. Renting a Home

Question 11 • ****Spring 2026 Financial Math - MA2007 MQS21QXV

Pat and his friend rent an apartment together. Their total cost to move in included first month's rent, last month's rent and a security deposit of $600. If Pat paid a total of $1,050 to move in, how much is his share of the rent each month?

Answer
A
$375
B
$450
C
$525
D
$750

Explanation

The $600 security deposit is shared equally, so Pat’s share is $300. The rest of his $1,050 payment, $1,050 − $300 = $750, covers first and last month’s rent. Divide $750 by 2 to get $375 per month, so the answer is $375.

AI-written and checked against the verified answer.

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