Question

Sharon Bernstein rents an apartment for $1,110 a month. She has these annual expenses: electricity, $980; gas, $1,100; phone/cable/Internet, $2,100; insurance, $450; and lost interest $52. What are the annual expenses?

Answer 1

Annual expenses INCLUDING cost of annual rent: = $17,597

Annual expenses EXCLUDING cost of annual rent: = $4,277

Explanation:

Annual expenses EXCLUDING cost of annual rent:

Electricity = $980

Gas = $1,100 Phone/cable/Internet = $2,100

Insurance = $45

Lost interest = $52

Total = $980 + $1,100 + $2,100 + $45 + $52

= $4,277

Annual expenses EXCLUDING cost of annual rent: = $4,277

Annual expenses INCLUDING cost of annual rent:

Rent = $1,110 per month

Annual rent = $1,110 per month × 12

= $13,320

Electricity = $980

Gas = $1,100 Phone/cable/Internet = $2,100

Insurance = $45

Lost interest = $52

Total = $13,320 + $980 + $1,100 + $2,100 + $45 + $52

= $17,597

Annual expenses INCLUDING cost of annual rent: = $17,597