Real Estate Math
A Massachusetts landlord collected $3,600 last month's rent in June 2023. As of June 2024 (one year later), how much interest must be paid at 5%?
A$180✓ Correct
B$360
C$72
D$720
Explanation
Annual interest = $3,600 × 5% = $180. To solve this, multiply the relevant values: $3,600 at 5%..
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