QuestionJune 3, 2025

Monica is considering moving into a two-bedroom apartment in Brooklyn. The apartment has a monthly rent of 1300 She will have an application fee of 2% a 10 credit application fee, a broker's fee of 12% a security deposit of 1 month's rent and last month's rent. How much does she need to pay up front in order to rent his apartment? 1300 5600 5808 5990

Monica is considering moving into a two-bedroom apartment in Brooklyn. The apartment has a monthly rent of 1300 She will have an application fee of 2% a 10 credit application fee, a broker's fee of 12% a security deposit of 1 month's rent and last month's rent. How much does she need to pay up front in order to rent his apartment? 1300 5600 5808 5990
Monica is considering moving into a two-bedroom apartment in Brooklyn. The apartment has
a monthly rent of 1300 She will have an application fee of 2%  a 10 credit application fee,
a broker's fee of 12%  a security deposit of 1 month's rent and last month's rent. How much
does she need to pay up front in order to rent his apartment?
 1300
 5600
 5808
 5990

Solution
4.5(261 votes)

Answer

\ 2792 Explanation 1. Calculate the application fee Application fee is 2\% of monthly rent: 0.02 \times 1300 = 26. 2. Add credit application fee Credit application fee is \10. Total so far: 26 + 10 = 36. 3. Calculate broker's fee Broker's fee is 12\% of monthly rent: 0.12 \times 1300 = 156. 4. Calculate security deposit and last month's rent Security deposit is one month's rent: 1300. Last month's rent is also 1300. Total for these: 1300 + 1300 = 2600. 5. Sum all costs Total upfront cost: 36 + 156 + 2600 = 2792.

Explanation

1. Calculate the application fee<br /> Application fee is $2\%$ of monthly rent: $0.02 \times 1300 = 26$.<br /><br />2. Add credit application fee<br /> Credit application fee is $\$10$. Total so far: $26 + 10 = 36$.<br /><br />3. Calculate broker's fee<br /> Broker's fee is $12\%$ of monthly rent: $0.12 \times 1300 = 156$.<br /><br />4. Calculate security deposit and last month's rent<br /> Security deposit is one month's rent: $1300$. Last month's rent is also $1300$. Total for these: $1300 + 1300 = 2600$.<br /><br />5. Sum all costs<br /> Total upfront cost: $36 + 156 + 2600 = 2792$.
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