Real Estate Math
A commercial lease is 3,500 sq ft at $18 per sq ft per year. What is the monthly rent?
A$5,250✓ Correct
B$6,300
C$5,833
D$4,750
Explanation
Annual rent = 3,500 × $18 = $63,000. Monthly rent = $63,000 ÷ 12 = $5,250. Using the values given ($18), apply the appropriate formula.. The correct answer is $5,250.. This is a common calculation on the Idaho real estate exam.
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