Question

The Harrison family paid $14,400 in rent last year. The landlord has decided to raise rent 2.5% each year. How much will the Harrison family have to pay for rent on the 5th year? Round to the nearest whole dollar. *

Answer 1

$16,200.

Explanation:

14400 + .025(1440)(5)

14400 + 1800 = 16200.

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