Real Estate Math
A NJ commercial tenant pays $28 per square foot annually for 3,500 square feet. What is the monthly rent?
A$6,800
B$8,167✓ Correct
C$7,583
D$9,800
Explanation
Annual rent = $28 × 3,500 = $98,000. Monthly rent = $98,000 ÷ 12 = $8,166.
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