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nlexa
1 month ago
6

Each August a restaurant rent is adjusted to the cost of living index. The rent has $1,550 a month, the cost-of-living index for

August was 3.7%. What is the new rent per month?
Mathematics
2 answers:
babunello [11.8K]1 month ago
7 0
The new monthly rent amounts to $1,607.35.
We start with: Original rent = $1,550; Cost of Living Index = 3.7%
1. Calculate the product of the original rent and the Cost of Living Index
1,550 * 0.037 = 57.35

2. Combine the result with the original rent
1,550 + 57.35 = $1,607.35
Inessa [12.5K]1 month ago
5 0
Answer:
new rent = $1,607.35

Explanation:
Let's consider the original rent as x

Given that the increase in rent is 3.7%.
Thus:
new rent = x + 3.7% of x
new rent = x + 0.037 x

With x = 1550, we find:
new rent = 1550 + 0.037(1550)
new rent = 1550 + 57.35
new rent = $1,607.35

I hope this clarifies!:)
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