explain anwser
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?
Answer is : 1,356.00
To calculate the difference in payments if you stay the whole year, subtract the total cost of the annual contract from the total cost of the month-to-month contract for a year.
Annual contract: $502/month x 12 months = $6,024
Month-to-month contract: $615/month x 12 months = $7,380
Difference: $7,380 - $6,024 = $1,356
Therefore, the difference in payments if you stay the whole year is $1,356.00.