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Rachel is considering moving into a one-bedroom apartment in Glen Gardens. The apartment has a monthly rent of $1,300. Below are the fees that she has been quoted: application fee: 2% of 1 month's rent, credit application fee: $10, security deposit: 1 month's rent, last month's rent, broker's fee: 12% of 1 year's rent. How much is she expected to pay up front in order to rent this apartment? *

Respuesta :

jayilych4real

The amount which Rachel would pay upfront before she moves into her apartment is:

  • $1934

Her monthly rent is $1,300

She would pay 2% from that

She would pay $10

She would also pay 12% of 1 year rent

With this, we can make the deductions of the amount which would be removed from her monthly paycheck and she would pay upfront.

2%of 1,300 is $26

+$10

12% of 1 year rent is (1300 *12)=$15, 600.

12% of 15,600 is $1872

With all these figures, we would add them up and we would get $26 + 10 + 1872= $1934

Read more about percentages here:

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