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you rent an apartment that costs $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 11th year living in the apartment?
sky spence
2658.5
11 x 9.5 = 104.5
100% of 1300 is 1300 (1300 + 1300 = 2600)
4.5% of 1300 is 58.5 (2600 + 58.5 = 2658.5)
Rent would be 2658.5 the 11th year
JT
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