Real Estate Math
A Hawaii commercial tenant rents 3,500 sq ft at $2.50/sq ft/month with a 3% annual rent increase. What is the monthly rent in year 2?
AA. $8,750
BB. $9,012.50✓ Correct
CC. $9,000
DD. $8,925
Explanation
Year 1 monthly rent = 3,500 sq ft × $2.50 = $8,750.
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