Rent/Mortgage/Insurance

1. John and Bob are planning on renting an apartment for $1000 per month. In order to move in, they will have to pay first month’s rent and a security deposit of $1500.

a. What is the TOTAL move in cost?

John and Bob are planning on renting an apartment for $1000 per month. In order to move in, they will have to pay first month’s rent and a security deposit of $1500.

b. How much will EACH person owe of the total move in cost?

Shani, Cierra, and Melissa are planning on renting an apartment for $1800 per month.

To move in, they must pay the first and last month’s rent as well as a security deposit equal to one month’s rent.

a. What is the TOTAL move in cost?

Shani, Cierra, and Melissa are planning on renting an apartment for $1800 per month.

To move in, they must pay the first and last month’s rent as well as a security deposit equal to one month’s rent.

b. How much will EACH person owe at move in?

Shani, Cierra, and Melissa are planning on renting an apartment for $1800 per month.

To move in, they must pay the first and last month’s rent as well as a security deposit equal to one month’s rent.

c. What is the monthly rent per person?

The Jones Family are looking to buy a house that costs $285,000. In order to buy the house, they need a 20% down payment as well as $8000 in closing costs.

a. How much cash will they need to buy the house?

The Jones Family are looking to buy a house that costs $285,000. In order to buy the house, they need a 20% down payment as well as $8000 in closing costs.

b. What is the amount of the mortgage?

What is a security deposit? Explain!

Calculate the ANNUAL homeowner’s insurance premium if Eterna Insurance charges 1.04552% of the value of the home per year.

The Smith family owns a home valued at $137,900.

Annual Premium:

The value of Samantha’s belongings $3500 for clothing, $8500 in electronics, $5000 in jewelry, $5200 in furniture, and $1800 in other items. Eterna Insurance charges a premium of 0.6465% of the value of personal belongings.

MONTHLY PREMIUM: