Real Estate Math
A Missouri commercial lease is $24 per square foot per year for 3,500 square feet. Monthly rent is:
A$5,833.33
B$7,000.00✓ Correct
C$8,400.00
D$84,000.00
Explanation
Annual rent = 3,500 x $24 = $84,000. Monthly = $84,000 / 12 = $7,000. Using the values given ($24), apply the appropriate formula.. The correct answer is $7,000.00.. This is a common calculation on the Missouri real estate exam.
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