Question

Two friends decide to rent an apartment and split the cost evenly. They each paid $575 towards the total move in cost of first and last month's rent and a security deposit. If the apartment cost $325 per month to rent, how much was the security deposit? a. $125 b. $250 c. $500 d. $825 Please select the best answer from the choices provided A B C D.

Answer 1

Friend's apartment cost $325 per month, then the security deposit by them is, $500.

What is security deposit?

A security deposit is an amount of money a landowner takes from a payer other than the early payment of rent.

Calculation of security deposit:

Given that,

Each paid total= $575

Monthly rent= $325/month

The security deposit = ?

Total paid by both person = $575 x 2 = $1150 for first rental cost, last month's rental and security deposit. We can write down this argument into an equation as follows:

$\text{First Rental}+\text{Last rental}+ \text{Security Deposit} = \ 1,150\\\\\ 325+\ 325+\text{Security Deposit} = 1,150\\\\ \text{Security Deposit}=\ 1,150 - \ 325\ - \ 325.\\\\\text{Security Deposit}=\ 1,150 - \ 650\\\\\text{Security Deposit}= \ 500.$

Therefore, The security deposit for the apartment is $500.

Learn more about Security deposit, refer:

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