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

The difference in payments for the apartment for the whole year will be $1356.

What is an annual contract?

An annual contract is a contract where the contract is established on the basis of payment for the whole year.

What is a month to month contract?

A month to monthcontract is a contract where the contract is established on the basis of payment for every single month.

Given, the annual contract of the apartment is $502.00/month.

Therefore, for the whole year, the rent will be $502.00 × 12 = $6024.00

Again, the month to month contract is $615.00/month.

Therefore, for the whole year, the rent will be $615.00 × 12 = $7380.00

As we are calculating the rent for an year, there will not be any penalty.

Hence, the difference in payments = $(7380.00 - 6024.00) =$1356.00

Learn more about annual and month to month contract here: brainly.com/question/1393028

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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?

$1,356.00

However, lets say you leave after 6 months. How much is the difference in the amount paid between the two contracts?

$326.00

Step-by-step explanation:

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