Question

1. brandon is opening up an architecture office and needs to rent office space. he has saved $20,000 over the past 5 years so that he can pay his office expenses for a year with his savings. if brandons start - up cost for office furniture and supplies is $3,500, what is the maximum amount he can afford to pay for office rent each month in the first year if he spends all of his savings?

options:
$1,375
$1,275
$1,475
$1,575

Explanation:

Step1: Calculate remaining money after start - up cost

Brandon has a total savings of $20,000 and a start - up cost of $3,500. So the money left for rent is $20000 - $3500=$16500.

Step2: Calculate monthly rent

There are 12 months in a year. To find the monthly rent, we divide the money left for rent by 12. So the monthly rent is $\frac{16500}{12} = 1375$.

Answer:

$1,375