1. House Hunting Finding your own place is exciting, but it is also a big responsibility. What are some costs associated with renting or buying a home?

2. Lesson Objective Calculate the average monthly cost of renting a home, and compare the total costs of renting to the total cost of owning a home. Content Vocabulary security deposit Made when signing a lease, it is a one-time payment that may be used to pay for cleaning the apartment at termination of the rental agreement, to change the locks, or to repair damage to the rental unit.

4. Calculate the average monthly cost of renting.

5. a.820(12) = $9840 b.40(12) = $480 c.44(12) = $528 d.8(12) = $96 Total: $13850 Average per month: $1154.17

6. 9.Patrick Lawton plans to rent an apartment for $775 per month. The security deposit is one month’s rent. He estimates that annual expenses will be $5,402. What is his average monthly cost? $1,009.11 $1,114.39 $1,218.44 $1,289.75

7. 10.Melissa Hefley’s mortgage payment is $1,230 per month. Her annual expenses are $7,540. She receives a $985 tax savings each year as a homeowner. What is her average monthly cost? $1,542.09 $1,776.25 $1,940.42 $2,310.04