Set up and solve an equation for the following business situation.
Scott Mason purchased a 5 unit apartment building as an investment before he retired. From the rent he collects each month, Scott pays out $600 for expenses. How much rent must he charge (in dollars) for each of the 5 apartments if he wants to make $500 profit each month? The amount of rent is the same for each of the apartments.
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To determine how much rent Scott Mason must charge for each of the 5 apartments in order to make a $500 profit each month, we can set up and solve the following equation.

### Step 1: Define the variables
- Let $ r $ be the rent charged per apartment.

### Step 2: Express the total income and expenses
- The total income from renting all 5 apartments is $ 5r $ dollars.
- Scott's total expenses per month are $600.

### Step 3: Express the profit condition
Scott wants to make a $500 profit each month, so his income minus expenses should equal $500:
\[
5r - 600 = 500
\]

### Step 4: Solve the equation
1. Add $600 to both sides to isolate the income:
\[
5r = 1100
\]
2. Divide both sides by 5 to solve for $ r $:
\[
r = \frac{1100}{5} = 220
\]

### Conclusion:
Scott must charge **$220** per apartment each month to achieve a $500 profit.

Would you like to go over any details or have any questions?

Here are some related questions you might consider:
1. What would happen if Scott wanted a $600 profit instead?
2. How would the equation change if Scott's monthly expenses increased to $700?
3. What if Scott could only rent out 4 of the 5 apartments—how would that affect the rent price?
4. How much total income would Scott generate per year with this rent amount?
5. What would Scott's profit be if he charged $250 per apartment?

**Tip:** When setting up equations in business situations, clearly define all variables and understand the relationships between income, expenses, and profit. This will help you form the correct equation.

Scott Mason purchased a 5 unit apartment building as an investment before he retired. From the rent he collects each month, Scott pays out $600 for expenses. How much rent must he charge (in dollars) for each of the 5 apartments if he wants to make $500 profit each month? The amount of rent is the same for each of the apartments.

Learn how to solve a real-life linear equation problem: Calculate how much rent Scott Mason should charge for each of his 5 apartments to achieve a $500 monthly profit. This problem covers key algebraic concepts and is suitable for students in Grades 6-8.

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