Question

Mark has made a $2000 down payment on an apartment. The total cost of the apartment for the year is $12000. He pays monthly payments for the rent of the apartment. How much did the rent cost per month?

A) $200
B) $1000
C) $100
D) $1500

Answer 1

To find the monthly rent, we subtract the down payment from the total cost and then divide by the number of months. The correct monthly rent is approximately $833.33, which is not listed in the provided options.

Step-by-step explanation:

First, let's calculate the total remaining balance on the apartment after the down payment. Mark has made a $2000 down payment on an apartment that costs $12000 for the year. So, the remaining balance is $12000 minus $2000, which equals $10000.

Now, we divide this remaining balance by the number of months in a year to find the monthly rent payment. There are 12 months in a year, so $10000 ÷ 12 months equals approximately $833.33 per month.

However, since the options provided do not include $833.33, it seems there may have been a calculation error in the original question provided by the student, or the options given are incorrect. Based on the correct calculations, none of the options A) $200, B) $1000, C) $100, or D) $1500 match the calculated monthly rent of approximately $833.33.