Question

omponents of renting
alculating broker fee
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 the yearly rent

The monthly rent is $1,300. To find the yearly rent, we multiply the monthly rent by 12 (since there are 12 months in a year). So, the yearly rent is $1,300 * 12 = $15,600.

Step2: Calculate the broker fee

The broker charged 10% of the yearly rent. To find 10% of $15,600, we multiply the yearly rent by 0.10 (since 10% is equivalent to 0.10 in decimal form). So, the broker fee is $15,600 * 0.10 = $1,560.

Answer:

1560