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24 February, 15:20

Crystal is looking for a new apartment. her monthly rent payment is equal to $1,000, her annual rental insurance premium is $250, and the interest she loses on her security deposit (opportunity cost) is $20 per year. the value of her apartment is $150,000. what are her total annual costs associated with renting?

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  1. 24 February, 16:07
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    Crystal is looking for a new apartment. her monthly rent payment is equal to $1,000, her annual rental insurance premium is $250, and the interest she loses on her security deposit (opportunity cost) is $20 per year. the value of her apartment is $150,000. what are her total annual costs associated with renting?

    Rent per year = (1000) (12)

    Rent per year = $12,000

    Annual insurance premium = $250

    Security deposit loss is = $20 annually

    Total annual costs are = $12,000 + $250 + $20

    Total annual costs are = $12,270
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