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Maximizing Profit

An apartment complex has 240 units. When the monthly rent for each unit is $360, all units are occupied. Experience indicates that for each $16 per month increase in rent, 3 units will become vacant. Each rented apartment costs the owner of the complex $46 per month to maintain. What monthly rent should be charged to maximize profit?

A. $168.6
B. $337.2
C. $505.8
D. $843

Solution Summary

Quadratic equations are used to maximize profit. The solution is detailed and well presented. The response was given a rating of "5/5" by the student who originally posted the question.