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Published byJulian Shelton Modified over 9 years ago
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House Hunting Finding your own place is exciting, but it is also a big responsibility. What are some costs associated with renting or buying a home?
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Lesson Objective Calculate the average monthly cost of renting a home, and compare the total costs of renting to the total cost of owning a home. Content Vocabulary security deposit Made when signing a lease, it is a one-time payment that may be used to pay for cleaning the apartment at termination of the rental agreement, to change the locks, or to repair damage to the rental unit.
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Calculate the average monthly cost of renting.
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a.820(12) = $9840 b.40(12) = $480 c.44(12) = $528 d.8(12) = $96 Total: $13850 Average per month: $1154.17
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9.Patrick Lawton plans to rent an apartment for $775 per month. The security deposit is one month’s rent. He estimates that annual expenses will be $5,402. What is his average monthly cost? $1,009.11 $1,114.39 $1,218.44 $1,289.75
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10.Melissa Hefley’s mortgage payment is $1,230 per month. Her annual expenses are $7,540. She receives a $985 tax savings each year as a homeowner. What is her average monthly cost? $1,542.09 $1,776.25 $1,940.42 $2,310.04
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