Answers Financial Math Retirement — TestQuestion 10

10

QuizMultiple Choice

Retirement — Test

Question 10 • Financial Math

The median monthly rent in one area for a specific type of property is $⁢1,375 An investor suggests keeping the same investment plan as long as the rent is no more than 28% above or below the median rent. Let x be the rent at any given point. Which answer represents the rent values at which the plan will stay the same?

Answer

A

990≤x≤1,760

B

x≤1,403 or x is greater than or equal to 1 comma 347

C

x is less than or equal to 990 or x is greater than or equal to 1 comma 760

D

1,347≤x≤1,403

Explanation

Find 28% of the median rent: 0.28 × $1,375 = $385. The rent can be $385 below or above the median, so the acceptable range is $1,375 − $385 = $990 through $1,375 + $385 = $1,760, inclusive. Therefore, the plan stays the same when 990 ≤ x ≤ 1,760.

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