Question

Darius is considering renting an apartment or buying a house. The apartment he likes is $1,175 per month. The house would have a mortgage of $1,200. If the mortgage lasts for 20 years, how much money will he spend on either the apartment or the house in those 20 years?

Answer 1

He will spend 282,000$ for rent of the apartment in 20 years.

He will spend 288,000$ on mortgage for the house in 20 years.

Explanation:

Apartment:

1,175$ x 12 months= 14,100$

14,100$ x 20 years= 282,000$

House:

1,200$ x 12 months= 14,400$

14,400$ x 20 years = 288,000$

:))