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?
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.