Real Estate Math
A Colorado commercial lease is 5,000 square feet at $18 per square foot per year. What is the monthly rent?
A$6,500
B$7,500✓ Correct
C$8,500
D$9,000
Explanation
Annual rent = 5,000 sq ft × $18/sq ft = $90,000/year. Monthly rent = $90,000 / 12 = $7,500.
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