Question

Sarah rents her apartment for $995 a month. Her landlord just told her that next year, beginning on January 1st her rent is going up by 5% and she will also have to pay for her monthly trash service which is $25 as well as having to pay a parking fee of $24 a month. What will her rent be beginning January 1st including all of her new charges and fees?

Answer 1

Upon a 5% increase, Sarah's rent will go from $995 to $1,044.75. Adding the new monthly charges for trash service ($25) and parking ($24), the total monthly payment will be $1,093.75.

Step-by-step explanation:

Sarah's current monthly rent is $995, but this is scheduled to increase by 5% from January 1st. To calculate the new rent, we find 5% of $995 and add it to the original rent:

• 5% of $995 = 0.05 × $995 = $49.75
• New rent = $995 + $49.75 = $1,044.75

Now, we add the additional costs of trash service and parking fees to the new rent:

• Trash service = $25
• Parking fee = $24
• Total additional fees = $25 + $24 = $49

So, the total monthly payment starting January 1st including the rent increase and new fees will be:

• Total payment = New rent + Total additional fees
• Total payment = $1,044.75 + $49 = $1,093.75

Therefore, Sarah's monthly rent including all charges and fees will be $1,093.75 beginning January 1st.