Teresa rents her apartment for $860860 per month, utilities not included. When she moved in, she paid a $700700 security dep

Question

3 years ago

12

Teresa rents her apartment for $860860 per month, utilities not included. When she moved in, she paid a $700700 security dep

osit using money from her savings account that was paying 33% interest. Her renter's insurance costs her $8484 per year. What are Teresa's total annual costs of renting? Teresa's total annual costs of renting are $nothing. (Round to the nearest cent.)

Business

1 answer:

Akimi4 [234] · Answer 1 · 2022-04-11T08:08:38+03:00

Answer:

$10,425

Explanation:

The computation of total annual costs of renting is shown below:-

Total annual costs of renting = Annual cost of rent + Annual insurance cost + Interest lost

= ($860 × 12) + $84 + ($700 × 3%)

= $10,320 + $84 + $21

= $10,425

Therefore computing the total annual costs of renting we simply applied the above formula.

Teresa rents her apartment for ​$860860 per​ month, utilities not included. When she moved​ in, she paid a ​$700700 security dep

Teresa rents her apartment for $860860 per month, utilities not included. When she moved in, she paid a $700700 security dep