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Question

Larry is renting an apartment that will cost r dollars per month. He must pay a D dollars application fee and C dollars for a credit application. His security deposit is two month's rent and he must also pay the last month's rent upon signing the lease. His broker charges 7% of the total year's rent as the fee for finding the apartment. Write an algebraic expression that represents the total cost of signing the lease.

Solution

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Deposit for two month's rent and last month rent = 3r

Application Fee = D

Credit application = C

Broker fee = 7% x 12r = 0.84r

Total cost of signing the lease:

3.84r + D + C

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