Buying vs. Renting a Home Answers

Len and three of his friends decide to rent a house and split the cost evenly. They each paid $725 towards the total move-in cost of first month's rent, last month's rent, and a security deposit. If rent is $800 per month, how much was the security deposit?

Sally must have a total of $2,250 to move in to her new apartment which includes first month's rent, last month's rent, a pet deposit and a security deposit. If the pet deposit is $150 and the security deposit is $750, how much is her rent each month?

Limited mobility may be a disadvantage of buying because the home is _____.

Which of the following is not an advantage of buying a home?

In order to move in to a rental house, Sky and Max must pay a deposit of $1,500. At the end of one year, Sky and Max have spent a total of $11,280 on their rental costs. How much did they pay for their monthly rent payment?

Aleisha wants to buy a condominium. She has the choice of buying it now or renting it with the option to buy at the end of 4 years. If she rents now, she must pay a deposit of $1,500 and pay rent of $865 per month. If she buys, she would need closing costs and her mortgage payment would be $844 a month for 4 years. How much would her closing costs need to be in order for the cost to buy to be the same as the cost to rent?

Kim-Su found an apartment that she wants to rent. The rent is $715 per month and there is a security deposit of $465. To move in, Kim-Su must have first month's rent, last month's rent and the security deposit. How much does Kim-Su need to move in?

Mika wants to buy a condominium. He has the choice of buying it now or renting it with the option to buy at the end of 3 years. If he buys now, he could put $0 down, but he must pay closing costs of $7,100. His monthly mortgage payment will be $675. Mika decides to rent instead of buy because it is the cheapest option over the first 3 years. His move-in costs are one month's rent and a $750 security deposit, and he would still need to pay his first month's rent on top of these move-in costs. To the nearest dollar, what is the maximum amount of monthly rent payment he could pay?

Sal and two of his friends rent an apartment together. Their total cost to move in included first month's rent, last month's rent and a security deposit of $1,200. If Sal paid a total of $1,000 to move in, how much is his share of the rent each month?

Two friends decide to rent an apartment and split the cost evenly. They each paid $575 towards the total move in cost of first and last month's rent and a security deposit. If the apartment cost $325 per month to rent, how much was the security deposit?