Real Estate Math
A commercial lease is $22/sq ft/year for 2,500 sq ft. What is the monthly rent?
A$4,583.33✓ Correct
B$5,500.00
C$3,666.67
D$6,600.00
Explanation
Annual rent = 2,500 × $22 = $55,000. Monthly rent = $55,000 ÷ 12 = $4,583.33. Using the values given ($22), apply the appropriate formula.. The correct answer is $4,583.33.. This is a common calculation on the Georgia real estate exam.
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