John and his two brothers decide to split the cost of an apartment. It is 40% more expensive than John's old apartment which costs $1200 per month. How much does John save per year by splitting the apartment compared to living alone? Let's answer step by step:
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His old apartment cost 1200 * 12 = $14,400 per year. His new apartment 1200 * 1.4 = $1680 per month. That means it cost 1680 / 3 = $560 per month. So it cost 560 * 12 = $6720. So he saves 14400 - 6720 = $7680. The answer: 7680.
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