Question

CAN SOMOME PLEASE HELPPP!!

You rent an apartment that costs $1700 per month during the first year, but the rent
is set to go up 9% per year. What would be the rent of the apartment during the 12th
year of living in the apartment? Round to the nearest tenth (if necessary).

Answer 1

• $4386.70

Explanation:

The rent will increase 11 times before the 12th year

Required equation:

• $1700*(1 + 0.09)^11 = $4386.70 (rounded)