Renting

Proof of Loss

• the value of an item goes down with time

• verification of purchase

Depreciates

• the value of an item goes down with time

• the current value of an item

Deductible

• an agreed amount between you and the insurance company for your portion you will pay out of pocket

• monthly payment

Actual Cash Value

• the current value of an item

• the value of an item goes down over time

Replacement Cost

• the current value of an item

• the cost of an item, if it is replaced new from a store.

What is rent?

• When you buy a house.

• Amount paid to live in an apartment you don't own.

What is a landlord?

• A person who owns property that he rents for a cost.

• Someone who buys land.

What is a lease?

• A dog license.

• A contract between you and a landlord agreeing you will pay a certain amount every month.

Security Deposit

• Money given to the landlord to use for damages in your apartment.

• To reserve the apartment.

$5000 x 5% x 84 mo =

• 21,000

• 22,000

• 220

• 210