Real Estate Math
A monthly NNN lease of $2,500 with annual rent increases of 3% will be what amount in year 3?
A$2,652.25✓ Correct
B$2,728.69
C$2,727.25
D$2,653.69
Explanation
Year 2: $2,500 × 1.03 = $2,575. Year 3: $2,575 × 1.03 = $2,652.25. End of year 3: $2,652.25 × 1.03 = $2,731.82. After 2 increases from start: $2,500 × 1.03² = $2,500 × 1.0609 = $2,652.25.
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