Question

Wayne and Rose Antol pay $1,255 for monthly rent on their apartment. Wayne lost his job and the couple needs to reduce their housing expenses. They rented a newapartment for $890 per month. If the cost of moving was $295, what are their savings the first year, after they move to their new apartment?$3,970$4,085$5,450$6,780None of these choices are correct.

Answer 1

Before Wayne lost his job;

They pay $1,255 for monthly rent.

this means, the total rent for a year is

They are to pay a total of $15,060 for a year rent in the old apartment

Rent for new apartment is $890 per month.

In a year, they will pay

They are to pay a year rent of $10,680 on for the new aprartment plus moving cost of $295

Total payment for new apartment is

`\begin{gathered} \text{Total payment of new apartment = \$10,680 + \$295} \\ \text{Total payment of new apartment = \$10,975} \end{gathered}`

Total payment for new apartment = $10,975

Amount save is

`\begin{gathered} \text{Amount saved = Rent on old apartment - Rent on new apartment} \\ \text{Amount saved = \$15},060\text{ - \$10,975} \\ \text{Amount saved = \$4,085} \end{gathered}`

Hence,

Wayne and Rose Antol will save $4,085