Your parents are considering renting you an apartment instead of paying room and board at your college. the month-to-month contract is $539.00/month and the annual contract is $467.00/month. if you break the annual contract, there is a 2-month penalty.
3. how much do your parents save if you stay a whole year by entering into an annual contract rather than a month-to-month contract?
4. if you enter into an annual contract but decide to leave after 5 months, how much do your parents lose by not doing the month-to-month contract.