Question

Three friends decide to rent an apartment and split the cost evenly. They each paid $640 towards the total move in cost of first and last month's rent and a security deposit. If rent is $650 per month, how much was the security deposit?

a.
$10
b.
$207
c.
$620
d.
$1,270



Please select the best answer from the choices provided

Answer 1

c. $620

Step-by-step explanation:

To find the cost of the security deposit, we need to subtract the amount paid towards the first and last month's rent from the total move-in cost.

Each friend paid $640 towards the total move-in cost, which includes the first and last month's rent and the security deposit. Since they split the cost evenly, the total move-in cost is 3 times $640, which is $1920.

The monthly rent is $650 per month, so the first and last month's rent combined is 2 times $650, which is $1300.

To find the security deposit, we subtract the first and last month's rent from the total move-in cost:

Security deposit = Total move-in cost - First and last month's rent

Security deposit = $1920 - $1300

Security deposit = $620

Therefore, the security deposit was $620.

Option c. $620 is the correct answer.