Audra owns a rental house. She makes mortgage payments of $1,060 per month, which include insurance, and pays $2,700 per year in property taxes and maintenance. Utilities are paid by the renter. How much should Audra charge for monthly rent to cover her costs?

Audra owns a rental house. She makes mortgage payments of $1,060 per month, which include insurance, and pays $2,700 per year in property taxes and maintenance. Utilities are paid by the renter. How much should Audra charge for monthly rent to cover her costs?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Audra owns a rental house. She makes mortgage payments of $1,060 per month, which include insurance, and pays $2,700 per year in property taxes and maintenance. Utilities are paid by the renter.

How much should Audra charge for monthly rent to cover her costs?

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