Write the equation in slope-intercept form for each line based on the information given.
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It is given that:
Monthly Rent = A
Total Money Paid to Landlord = Y
The landlord requires initial payment to include:
- 1st month's rent
month's rent or 50% of monthly rent for Security Deposit
- 40% of monthly rent for utility bills
- 5% of monthly rent for health club
- 13% of monthly rent per person for other services
Also, Total Amount Paid to the Landlord = $2574
Number of People Sharing the Apartment = 3
Basis the above information,
Y = (100% * A) + (50% * A) + (40% * A) + (5% * A) + (13% * A * 3)
⇒ Y = A + (0.5 * A) + (0.4 * A) + (0.05 * A) + (0.39 * A)
⇒ Y = A + (0.5 * A) + (0.4 * A) + (0.05 * A) + (0.39 * A)
⇒ Y = 2.34 * A
Substituting the value of Y to determine A
⇒ 2,574 = 2.34 * A
⇒ A = 1,100
Hence, the monthly rent is $1,100