Question

Blake is signing a lease for a studio apartment that rents for $425/month. How much will Blake pay to move in if he must pay the first and last months’ rent and a security deposit equal to 50% of his monthly rent? $637. 50 $850. 00 $1062. 50 $1275. 0.

Answer 1

(c) $1062.50

Explanation:

The total of the rental and security deposits amounts to two and a half months' rent:

2.5 × $425 = 1062.50

It will cost Blake $1062.50 to move in.