Real Estate Math
A Wichita commercial tenant leases 2,500 sq ft at $15 per sq ft annually. What is the monthly rent?
A$2,750
B$3,125✓ Correct
C$3,500
D$3,750
Explanation
Annual rent = 2,500 × $15 = $37,500. Monthly rent = $37,500 ÷ 12 = $3,125. Using the values given ($15), apply the appropriate formula.. The correct answer is $3,125.. This is a common calculation on the Kansas real estate exam.
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