The monthly rent on an 80 square meter apartment in Monte Carlo is 1800 euros. The monthly rent on a 500 square foot apartment in Sante Fe, New Mexico, is $875.

Question

I need the work to be shown to how you found the answer.

Find the cost of the Monte Carlo apartment in Euros per square meter.

 

Find the cost of the monte carlo apartment in US dollars per square foot.

 

Find the cost of the Santa Fe apartment in Us dollars per square foot.

 

In terms of price per area(dollars per square foot), which apartment is less expensive?

Answer 1

For the cost per square foot, you will take the cost and divide by the number of square meters/feet. Thus,

 

Monte Carlo: 1800/80 = 22.5 euros per square meter

Santa Fe: 875/500 = $1.75 per square foot

 

Now the trick is finding the cost of the Monte Carlo apartment in US dollars per square foot.

 

A quick Google search shows that 1 euro = 1.12 US dollars. Also, 1 square meter = 10.76 square feet.

 

So...

 

if you take 1800 euros it will turn into $2016. MATH: 1800(1.12)

your 80 square meters becomes 860.8 square feet. MATH: 80(10.76)

 

When you do the math 2016/860.8, you find the cost per square foot is approximately $2.34.

 

So which is less expensive in US dollars per square foot? Santa Fe!