Question

Mason currently pas $420 per month in rent. the contract on his apartment sates that his rent will increase by 6% next year.

Answer 1

Answer:

a. Mason's rent will increase by $302.40 next year.

b. Mason's new rent per month next year will be $445.20.

Step-by-step explanation:

The first question is asking us how much Mason's rent will increase next year.

If the contract on Mason's apartment states that his rent will increase by 6% next year, and he is currently paying $420 per month, to calculate the increase of the rent next year, we will first have to multiply $420 by 12 months to calculate how much Mason is paying in rent a year:

$420* 12=$

$5040$

Therefore, Mason is currently paying $5040 a year.

With this information, we will now need to calculate 6% of $5040. To calculate 6% of $5040, convert 6% to decimal form, and multiply it by $5040.

6% means 6 per cent/hundred, so it can be represented as:

$\frac{6}{100}$

The fraction $\frac{6}{100}$ can be represented as (we're two places behind the decimal, in the hundredths place):

$0.06$

Now, multiply the decimal form of 6% by $5040:

$0.06*5040=$

$302.40$

Therefore, Mason's rent will increase by $302.40 next year.

-

To calculate Mason's new rent per month next year, we can divide $302.40 into 12 months to see the rent increase per month, and then add that quotient to Mason's current rent per month, $420:

$302.40$ ÷ $12=$

$25.20$

Now, that we know the rent per month will increase by $25.20 next year, we can add $25.20 to Mason's current rent per month:

$420+25.20=$

$445.20$

Therefore, Mason's new rent per month next year will be $445.20.