GodBlessYou 3 years ago Don Price bought a $70,000 house. He rents the house for$900 per month. He has $700 in monthly expenses. (1) What is the amount of the annual rent? • This Question is Closed 1. benice wwjd 2. GodBlessYou lol!:) Do you know Jesus? 3. kumar2006 Why would you ask that question for? 4. kumar2006 That's not even funny man 5. GodBlessYou Becuase benice asked wwjd. That stands for what would Jesus do. :) 6. AnimalAin He would probably sort out the unimportant information, and answer the question. 7. kk1022 Its his own question @AnimalAin 8. kumar2006 Wow 9. AnimalAin What information given in the problem is important, and what isn't? 10. GodBlessYou That's to funny! I'm sorry for the confusion. :) So I still don't understand the process...? 11. kk1022 Can someone just answer his question? Poor guy. the responders are not even talking about what he is asking 12. AnimalAin The question is about the rent. Which of the three numbers in the question is about the rent? 13. kumar2006 He's bored 14. GodBlessYou Thank you kk1022. :) 15. benice AnimalAin answer is the one I would put my faith in 16. GodBlessYou I'm not bored. I have a question. I was just commenting on what benice said. There is nothing wrong with that. 17. kk1022 Exactly 18. GodBlessYou So can anybody explan? :) 19. AnimalAin Did you read my posts above? 20. GodBlessYou The question is about the rent. Which of the three numbers in the question is about the rent? umm.. 70,000, 900, and 700 21. benice the question is asking simple what is the annual rent ..... the other figures are there to test your beliefs 22. AnimalAin You are not reading very carefully. Only one of the numbers is about the rent. Which one? 23. kk1022 well said benice 24. GodBlessYou Um... He rents his house for 900 a month. 25. AnimalAin How many months in a year? 26. GodBlessYou 12 27. GodBlessYou You multiply 900 by 12 28. AnimalAin Well, we now have two numbers, 900 and 12. What do you suppose we ought to do with them? 29. GodBlessYou multiply 30. AnimalAin So the answer is..... 31. GodBlessYou 10,800 32. AnimalAin Don't forget the dollar sign. 33. GodBlessYou$10.800. :) The second part to the question was What is the ammount of the annual expenses?

34. GodBlessYou

I didnt mean to write a decimal I meant a comma. :)

35. AnimalAin

OK, the pattern of this problem is very similar to the one we just did. What are you going to do?

36. GodBlessYou

not sure..

37. AnimalAin

A minute ago we were concerned with the rent. Now we are concerned with the expenses. Which number in the problem is concerned with expenses?

38. GodBlessYou

$700 39. AnimalAin How many months of the year does he have those expenses? 40. GodBlessYou 12 41. AnimalAin So what do you do? 42. GodBlessYou You would multiply 700 by 12. 43. GodBlessYou and then you get$8,400

44. AnimalAin

Good.

45. GodBlessYou

What is the rate of income to the nearest tenth of a percent?

46. kk1022

@AnimalAin, such a good teacher

47. GodBlessYou

I agree! The best on here I've had so far. :)

48. AnimalAin

Not sure about the intent of the question. Is that exactly the way it's worded?

49. GodBlessYou

Yes that was the third part. I says, What is his rate of income to the nearest tenth of a percent.

50. GodBlessYou

51. AnimalAin

The investment is $70,000. The net income (rent less expenses) is$200 a month, or \$2400 a year. So the percentage would be$\frac{2400}{70000}\approx 3.4~percent$

52. AnimalAin

Although, I'm not certain that is exactly the way your teacher or the author of the text would figure it.

53. GodBlessYou

Alright that really helped! Thank you! Thank you for actually taking the time to explain that to me so I can memorize the process to apply to other similar problems. :)

54. AnimalAin

No sweat.