Carla graduated from high school this year and has a steady job. She feels ready to move into her own space and has [tex]$\$[/tex]900$ in savings. Does she have enough for a down payment to rent this apartment?

\begin{tabular}{|l|l|}
\hline
Security Deposit & [tex]$\$[/tex]500$ \\
\hline
Application Fee & [tex]$\$[/tex]10$ \\
\hline
First Month's Rent & [tex]$\$[/tex]550$ \\
\hline
Parking (optional garage) & [tex]$\$[/tex]30$ \\
\hline
Electricity & Included in the rent \\
\hline
Telephone & Approximately [tex]$\$[/tex]36[tex]$ per month; $[/tex]\[tex]$40$[/tex] to connect \\
\hline
Water & [tex]$\$[/tex]26[tex]$ per month; a deposit of $[/tex]\[tex]$50$[/tex] \\
\hline
\end{tabular}

A. Yes
B. No



Answer :

To determine if Carla has enough savings for the initial down payment to rent the apartment, let's break down the costs she will incur upon moving in:

1. Security Deposit: \$500
2. Application Fee: \$10
3. First Month's Rent: \$550
4. Parking (optional garage): \$30 (assuming she opts for it)
5. Telephone Connection Fee: \$40
6. Water Deposit: \$50

Adding these expenses together, we get:

[tex]\[ \text{Total Initial Payment} = \[tex]$500 \text{ (Security Deposit)} + \$[/tex]10 \text{ (Application Fee)} + \[tex]$550 \text{ (First Month's Rent)} + \$[/tex]30 \text{ (Parking)} + \[tex]$40 \text{ (Telephone Connection Fee)} + \$[/tex]50 \text{ (Water Deposit)}
\][/tex]

[tex]\[ \text{Total Initial Payment} = \[tex]$500 + \$[/tex]10 + \[tex]$550 + \$[/tex]30 + \[tex]$40 + \$[/tex]50 = \$1180
\][/tex]

Carla has savings of \$900. To determine if she has enough for the down payment, we compare her savings with the total initial payment required:

[tex]\[ \text{Comparison} = \[tex]$900 \text{ (Savings)} < \$[/tex]1180 \text{ (Total Initial Payment)}
\][/tex]

Since \[tex]$900 is less than \$[/tex]1180, Carla does not have enough savings for the initial payment. Thus, the answer is:

No, Carla does not have enough savings for the down payment to rent the apartment.

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