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					                Monthly Apartment Costs
Most tenants expect to pay monthly telephone and cable TV charges.
However, some renters may be unaware that the landlord's insurance
covers only the building and not tenants' belongings. Tenants must
have their own insurance against losses to their belongings from fire,
theft, vandalism, and so on.

   1. PST applies to some insurance premiums, or what someone
      pays for insurance coverage. It applies to the type of insurance
      that renters buy. Calculate the total cost, including PST, on
      each premium. Round your answers to the nearest cent.
      a) $18 per month                                    b) $215 per year
      c) $196 per year                                    d) $178 per year
      e) $16.80 per month                                 f) $206 per year

   2. Natasha estimates the value of the belongings in her one-bedroom apartment at $20
      000. Her insurance premium is $162 a year. How much must she budget each month to
      pay the insurance premium, including tax, on her belongings?

   3. Cecilia and her husband estimate the value of the belongings in their two-bedroom
      apartment at $60 000. She has a quote of $299 for insurance coverage for contents and
      liability for one year.
          a. What is their total bill, including 8% PST?
          b. How much must they budget each month to pay the insurance
               on their belongings?

   4. Aside from $695 per month rent, HaIley pays for parking, cable TV,
      telephone, and contents insurance. On average, he pays
             $30/month for parking          $27/month for cable TV
             $45/month for telephone        $35/month for insurance
          a. What are HaIley's total monthly expenses for renting and maintaining his
             apartment?
          b. It is recommended that rent should not be more than the tenant's weekly gross
             income, or weekly income before any deductions. Halley is paid $1500
             biweekly. Is his rent within the recommended amount?

   5. Erin and her sister, Moira, share an apartment. They have a category for
      accommodation in their budget. This category includes all the expenses
      related to renting and maintaining their apartment.
          a. Use the following information to calculate their monthly accommodation costs.
              laundry, $48                                 cable TV, $39
              rent, $725                                   utilities (gas, hydro, water), $95
              telephone, $35                               insurance, $30
          b. What combined gross monthly income do they need to be within the
              recommended amount given in question 6 b)? (Use 4 weeks = 1 month.)

				
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