Your parents are renting an apartment for you when you go away to college. An annual contract is $502.00/month with a 2-month penalty if you break the lease. The month-to-month contract is $615.00/month. How much is the difference in payments if you stay the whole year?
The annual contract is $502.00/month for 12 months, so the total cost for the year is $502.00/month * 12 months = $6024.00.
The month-to-month contract is $615.00/month, so the total cost for the year is $615.00/month * 12 months = $7380.00.
The difference in payments for staying the whole year is $7380.00 - $6024.00 = $1356.00.
Therefore, the difference in payments if you stay the whole year is $1356.00.