Real Estate Math
A Kentucky tenant rents commercial space of 3,500 square feet at $18 per square foot annually. What is the monthly rent?
A$5,250✓ Correct
B$6,300
C$4,375
D$63,000
Explanation
Annual rent = 3,500 sq ft x $18/sq ft = $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 Kentucky real estate exam.
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