Question

You have found an apartment that you really like here in Erie. You filled out the rental application, the landlord obtained your credit report and did a check for landlord/tenant disputes that you may have had in the past. Your credit score and history were both great, and it turns out that you had never been evicted before from other apartments you have rented. Congratulations! The landlord says that you can move into the apartment on February 12th, and that the February rent and the security deposit will both be due on that day before you get the keys. Use the information below to calculate how much you will owe the landlord on February 12th.

a) $750
b) $1,500
c) $825
d) $1,275

Answer 1

Without the specific rental and security deposit amounts, we cannot determine the correct answer to the question. The example provided assumes a rent of $650 and an equal security deposit, totaling $1,300, which isn't listed in the options. Therefore, additional information is required.

Step-by-step explanation:

The student question involves calculating the amount needed to move into an apartment. This is a basic arithmetic problem where key details are likely missing from the student's question. Without information on the actual monthly rent or the security deposit amount, it's impossible to give a correct answer. However, we can provide an example to illustrate how to approach such a problem.

If the monthly rent for the apartment is $650 and the security deposit is usually equal to one month's rent, then the total amount due on February 12th would be $1,300 (which is the rent of $650 plus the security deposit of $650). This total is not among the options provided (a) $750, (b) $1,500, (c) $825, (d) $1,275, indicating that we need more specific information to complete the calculation accurately.

This calculation is an essential skill for financial planning and is often a part of discussions related to Home Ownership and Credit as well as evaluating one's monthly budget, including discretionary spending.