Contracts
A Mississippi commercial lease provides for annual rent escalations using the Consumer Price Index (CPI). If the CPI increased 3.5% during the prior year and the current rent is $6,000/month, the new rent is:
A$6,180
B$6,210✓ Correct
C$6,000
D$6,250
Explanation
New rent = Current rent × (1 + CPI increase) = $6,000 × 1.035 = $6,210.
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