Real Estate Math
An Idaho commercial lease charges $18 per square foot annually for a 2,400 sq ft space. What is the monthly rent?
A$3,200
B$3,400
C$3,600✓ Correct
D$3,800
Explanation
Annual rent = 2,400 sq ft x $18/sq ft = $43,200. Monthly rent = $43,200 / 12 = $3,600. Using the values given ($18), apply the appropriate formula.. The correct answer is $3,600.. This is a common calculation on the Idaho real estate exam.
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