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The regular monthly rent at the Empty Arms Apartments is $800 per month. If Andrew signs a one-year lease, the rent is reduced to $700 and the security deposit is also reduced from $500 to $300. The lease also states that if Andrew terminates the agreement prior to one year, he must repay the entire rent reduction and the balance of the security deposit. ​ Suppose Andrew must move out at the beginning of the eighth month. What is the total amount he would owe the landlord, under the terms of the lease?

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Answer:

$900

Explanation:

The reduction amount in security deposit using the lease agreement is ;

$500-$300 = $200

The rent reduced amount under the lease for 8 months is;

($800-$700)*7=$700

Total amount owed will be : $200 +$700 = $900

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