Answered

Westonci.ca is the premier destination for reliable answers to your questions, brought to you by a community of experts. Get quick and reliable solutions to your questions from a community of experienced experts on our platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

You rent an apartment that costs
$
1300
$1300 per month during the first year, but the rent is set to go up 9.5% per year. What would be the rent of the apartment during the 11th year of living in the apartment? Round to the nearest tenth (if necessary).

Sagot :

Answer:

$2,660

Step-by-step explanation:

9.5% of 1300 is 123.5

So to figure out what the rent would cost in 11 years, we just have to multiply 123.5 by 11.

123.5 × 11 = 1358.5

We can then add that number to 1300.

1358.5 + 1300 = $2658.5

Then we round.

Your final answer would be:

$2,660

Answer:

$3221.70 per month.

Step-by-step explanation:

After 1 year the monthly rate is 1300 * 1.095

= $1423.50 - that is during the second year.

The third  years  rent will be  1423.50 * 1.095  (  = 1300 * 1.095^2 - and so on every year.

During the  11th  year it will be 1300 * 1.095^10

= $3221.70 per moth.

=

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.