Real Estate Math
A Florida investor pays $450 per month for a storage unit and signs a 3-year lease. What is the total lease obligation?
A$16,200✓ Correct
B$5,400
C$1,350
D$14,400
Explanation
Total lease obligation = $450/month × 12 months × 3 years = $450 × 36 = $16,200. Using the values given ($450), apply the appropriate formula.. The correct answer is $16,200.. This is a common calculation on the Florida real estate exam.
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