Real Estate Math
Annual rent on a commercial lease is $24 per square foot. The space is 2,500 square feet. What is the monthly rent?
A$4,500
B$5,000✓ Correct
C$5,500
D$6,000
Explanation
Annual rent = 2,500 sq ft x $24 = $60,000. Monthly rent = $60,000 / 12 = $5,000.
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