Real Estate Math
A Massachusetts commercial tenant leases 3,500 SF at $28/SF/year with annual 2.5% escalations. What is the rent in year 3?
A$100,450
B$98,000
C$102,761✓ Correct
D$104,000
Explanation
Year 1 rent = 3,500 × $28 = $98,000. Year 2 = $98,000 × 1.
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