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## Engineering Economy

You have decided to buy a small apartment building for \$110,000 near a local college.Â  You used \$11,000 as a down payment and obtained a mortgage from a local bank for the remaining \$99,000.Â  The annual mortgage payment to the bank is \$11,500.Â  You expect that the annual maintenance on the building and grounds will be \$6,500.Â  There are four apartments (two bedrooms each) in the building that can be rented.Â  Assuming 100% occupancy all year, how much rent per month must you charge in order to break even, such that your revenue equals your expenses each month.Â  (Enter your answer as a number without the dollar sign.).
Question Two
You need to get gasoline for your car.Â  You can drive ten miles (round trip) to a gas station on the outskirts of town and save 10 cents per gallon on the price of gasoline.Â  If gasoline costs \$3 per gallon and your car gets 25 miles per gallon for in-town driving, how many gallons of gasoline must you buy at the edge-of-town station to save enough on your fill up to pay for the cost to going to the station and back?Â  Ignore the wear-and-tear cost of operating your car in this example.Â  (Enter your answer as a number without the units of gallons.)