What is the pro-rated rent for a $525/month apartment when a tenant moves in on the 16th of the month (assuming a 30-day month)?

To determine the pro-rated rent for a tenant moving in on the 16th of a 30-day month, we need to calculate how many days they will be occupying the apartment for that month.

Since the tenant moves in on the 16th, they will occupy the apartment for 15 days of that month (from the 16th to the 30th). The total monthly rent is $525, so we begin by calculating the daily rent.

To find the daily rent, we divide the total rent of $525 by 30 days:

[ \text{Daily Rent} = \frac{525}{30} = 17.50 ]

Next, we multiply the daily rent by the number of days the tenant will be living in the apartment:

[ \text{Pro-rated Rent} = 17.50 \times 15 = 262.50 ]

Thus, the pro-rated rent for the tenant moving in on the 16th of the month is $262.50. This calculation takes into account only the days of occupancy, ensuring that the tenant pays fairly for the time they are in the apartment, rather than paying for the entire month when they did not occupy it for the full 30