83
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Question 83 • ****Spring 2026 Financial Math - MA2007 MQS21QXV

When renting an apartment, in addition to the first month's rent, the amount to move-in often requires the last month's rent as well as a security deposit. The rent is $725 per month and the security deposit is $900. How much money must be paid to the apartment management to be able to live in the apartment the first year? Assume that the renters moved out at the end of the first year.

Answer
A
$9,425
B
$9,600
C
$10,325
D
$11,050

Explanation

The first and last months’ rent are paid at move-in, but the last month counts toward the 12 months of rent. Total rent for the year is 12 × $725 = $8,700; adding the $900 security deposit gives $9,600 paid. The security deposit may be returned after moving out, but it still must be paid, so the correct choice is $9,600.

AI-written and checked against the verified answer.

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