Question

leila and winnie paid a $210 application deposit for the 1,250 - square - foot apartment they are moving into. they must provide a $25 credit report and pay a security deposit equal to 1 month’s rent. the landlord also requires first and last month’s rent when signing the lease. the broker charged 10% of the yearly rent. the monthly rent is $1,300. how much should leila and winnie expect to pay for the broker fee? they should expect to pay $\square$ for the broker fee.

Explanation:

Step1: Find yearly rent

Monthly rent is $1300, so yearly rent = $1300 × 12 = $15600.

Step2: Calculate broker fee (10% of yearly rent)

Broker fee = 10% of $15600 = 0.10 × $15600 = $1560.

Answer:

1560