Real Estate Math
A Michigan commercial lease is for 5,000 sq ft at $18 per sq ft annually. What is the annual rent?
A$72,000
B$90,000✓ Correct
C$108,000
D$85,000
Explanation
Annual rent = 5,000 sq ft x $18/sq ft = $90,000. Using the values given ($18), apply the appropriate formula.. The correct answer is $90,000.. This is a common calculation on the Michigan real estate exam.
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