Acampus apartment has two bedrooms and two attached bathrooms and rents for $1,025 per month plus an average of $60 per month for electricity. you are a student and would have the option of splitting the rent with a fellow student 60/40. you pay 40% as your name is on the lease. your scholarship gives you $700 per month for housing. what can you save above your out of pocket housing cost with your scholarship and your roommate's contribution in an academic year (8 months).

I can save $2,128 in my academic year and my roommate can save $392 in their academic year.

Step-by-step explanation:

Total housing amount= rent + electricity= $1,025 + $60= $1,085 per month

My rent is 40% of $1,085 which equals $434 a month while my roommate’s rent would be 60% of $1,085 which equals $651 a month.

The scholarship gives me $700 a month for housing out of which I spend $434 and my roommate spends $651.

I save; $700 - $434 = $266 a month

My roommate saves; $700 - $651 = $49 a month.

An academic year lasts for 8 months so my savings= $266 x 8 = $2,128

My roommate’s savings= $49 x 8 = $392  

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