Question

Cindy's apartment complex is offering renters insurance through their insurance company. The insurance company charges an annual premium of $565.00 which can be paid in equal payments throughout the year with her monthly rent. Cindy's monthly rent is currently $789.00. What will Cindy's new rent be if she includes the renters insurance?

Answer 1

Answer:

$836.08 per month

Explanation:

In order to calculate Cindy's new monthly rent, we would simply need to divide the renter's insurance by 12 since there are 12 months in a year. and then add that product to her monthly rent like so...

565.00 / 12 = 47.08

789 + 47.08 = 836.08

Finally, we can see that Cindy's new rent after including the renters insurance would be $836.08 per month