Question

Julio signs a new lease for $800 and in the agreement the complex will raise his rent 3% each year that he renews. As of right now, he does not plan on every buying a house. What is the highest his rent could ever be?

A).$100
B).$800
C).$8,000
D ∞

Answer 1

Infinity, because there is no set amount of years the price can rise. The price and keep rising as long as he rents, and it's stated that he will not ever buy a house