2
QuizMultiple Choice

Buying vs. Renting — Quiz

Question 2 • Financial Algebra/Mathematics

Anabel moves into an apartment with 6 days left in a 30 -day month. The rent is $⁢1,600 per month. The landlord requires a $⁢75 application fee, 1.5 months' rent as a security deposit, and the first and last month's rent, prorated for the first month. What are Anabel's total immediate costs?

Answer
A
1 dollars comma 920
B
2 dollars comma 400
C
4 dollars comma 395
D
1 dollars comma 675

Explanation

The security deposit is 1.5 × $1,600 = $2,400. With 6 days remaining in a 30-day month, the prorated first month’s rent is (6 ÷ 30) × $1,600 = $320; the last month’s rent is $1,600. Adding the $75 application fee gives $2,400 + $320 + $1,600 + $75 = $4,395, which is choice B.

AI-written and checked against the verified answer.

Previous
Next