Real Estate Math
An Iowa commercial lease has an annual base rent of $18 per square foot for 2,500 square feet. What is the monthly rent?
A$3,750✓ Correct
B$45,000
C$37,500
D$1,500
Explanation
Annual rent = 2,500 sq ft x $18/sq ft = $45,000/year. Monthly rent = $45,000 / 12 = $3,750. Using the values given ($18), apply the appropriate formula.. The correct answer is $3,750.. This is a common calculation on the Iowa real estate exam.
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